Belfast Telegraph

Irish jet firm Avolon eyed by Hong Kong group

One of Hong Kong's biggest property development firms, CK Asset Holdings, is interested in acquiring a stake in Dublin-based aircraft lessor Avolon if a majority holding owned indirectly by Chinese conglomerate HNA is put up for sale
One of Hong Kong's biggest property development firms, CK Asset Holdings, is interested in acquiring a stake in Dublin-based aircraft lessor Avolon if a majority holding owned indirectly by Chinese conglomerate HNA is put up for sale

By John Mulligan

One of Hong Kong's biggest property development firms, CK Asset Holdings, is interested in acquiring a stake in Dublin-based aircraft lessor Avolon if a majority holding owned indirectly by Chinese conglomerate HNA is put up for sale.

However, it is not clear that HNA, which has been selling assets to cut debt, has any immediate plans to sell more of the Ireland-based lessor via its Bohai subsidiary.

Last year, HNA sold a 30% stake in Avolon to Japanese financial services group Orix for $2.2bn (£1.6bn). Orix has its own aviation leasing business, which is also based in Dublin.

But Avolon chief executive Domhnal Slattery said last August that HNA was committed to being a long-term shareholder in Avolon and that no further stake sales of the leasing firm were planned.

"HNA said repeatedly that they deem Avolon to be a long-term strategic hold and that will not sell a controlling interest," he said at the time.

The remainder of Avolon, the world's third-largest aircraft lessor, is owned by Bohai Leasing, which is a subsidiary of HNA.

Belfast Telegraph

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