Avolon, the international aircraft leasing business, announced its intention to partner with Wells Fargo & Company, a leading diversified financial services company, to form a new joint-venture aircraft leasing business called Avolon Capital Partners Limited (“ACP” or the “Business”). The formation of ACP is subject to a number of regulatory approvals. Since its inception in 2010, Avolon has raised a total of US$3.7bn of debt capital from a wide range of financial institutions, including Wells Fargo, who has been a significant lender to Avolon since January 2011. ACP will build an aircraft fleet primarily through sale and leaseback transactions with airlines on new aircraft. ACP will focus on young, fuel-efficient single aisle and twin-aisle aircraft with an initial target portfolio size of US$500m. Wells Fargo will be the majority shareholder and provide banking and debt financing facilities for the Business. ACP will be headquartered in Dublin. Existing Avolon and Wells Fargo team members will serve as ACP’s management team and provide business expertise. ACP will combine the aircraft leasing expertise of Avolon and the leading international financial franchise of Wells Fargo. Avolon’s Chief Financial Officer, Andy Cronin, will serve as a Director on the Board of ACP. Daire O’Criodain, an executive at Avolon, who has extensive experience in the aircraft leasing industry, will serve as ACP’s Managing Director.
Learn more on how AviTrader can expand your market
Please contact
Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada