Orix shields Avolon from parent debt

On August 8, Irish lessor Orix Aviation made a surprise minority investment in fellow Irish leasing company, Avolon. It is immediately clear why this is a good deal for Avolon--insulating it against ultimate parent company HNA Group's debt woes--but the benefits to Orix Aviation are less instan...

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Bibliographic Details
Published inFlight international Vol. 194; no. 5650; p. 16
Main Author Segal, Sophie
Format Magazine Article
LanguageEnglish
Published London DVV Media International Ltd 21.08.2018
Subjects
Acquisitions & mergers
Aircraft
Aircraft industry
Aviation
Balance sheets
Boeing aircraft
Debt
Delivery scheduling
Equity stake
Leasing
Leasing companies
Lessors
Purchase orders
Stockholders
Japan
China
Hong Kong China
Online AccessGet full text
ISSN0015-3710
2059-3864

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Summary:On August 8, Irish lessor Orix Aviation made a surprise minority investment in fellow Irish leasing company, Avolon. It is immediately clear why this is a good deal for Avolon--insulating it against ultimate parent company HNA Group's debt woes--but the benefits to Orix Aviation are less instantly obvious. While the deal is still subject to approval, Orix Aviation intends to pay $2.2 billion for a 30% minority stake in Avolon, which is wholly-owned by publicly-listed Chinese company Bohai Capital, in which HNA Group holds a controlling stake. Avolon has over 300 aircraft on order with Airbus and Boeing scheduled to deliver through 2026, according to Flight Fleets Analyzer.
Bibliography:ObjectType-News-1
content type line 24
SourceType-Magazines-1
ISSN:0015-3710
2059-3864