Avolon to acquire aircraft leasing business of CIT Group
Foreground (L-R): Ellen R. Alemany (Chairwoman and CEO of CIT Group), Adam Tan (Vice Chairman & CEO of HNA Group).
Background (L-R): Kelley Morrell (Executive Vice President and Chief Strategy Officer, CIT Group), Carol Hayles (Executive Vice President and Chief Financial Officer, CIT Group), Chris Jin (CEO, Bohai Capital), Dómhnal Slattery (CEO, Avolon)
Avolon announces an agreement to acquire the aircraft leasing business of CIT Group Inc. The combined businesses will have an owned, managed and committed fleet of 910 aircraft valued at over US$43 billion – the third largest aircraft leasing business in the world.