Irish-based aircraft leasing company, Avolon, and its peers stand to benefit from the coronavirus outbreak, as airlines shore up cash by refinancing their planes, the company has said.
Avolon chief executive Domhnal Slattery is set to pocket €30.8m from the sale of the company to China’s Bohai Leasing for €2.23bn.
The CEO of Dublin-based Avolon, Domhnal Slattery, is set for a €31.28m windfall if a planned takeover of his aircraft leasing firm succeeds.
Chinese aviation and shipping conglomerate HNA Group has acquired a 20% stake in Irish aircraft leasing firm, Avolon, for $429m (€389m). It made the purchase via its Bohai Leasing subsidiary.
Dublin-based international aircraft leasing firm, Avolon has reported a 36% year-on-year increase in first quarter profits to nearly €44m.
Revenues at Irish aircraft leasing firm Avolon soared 35% to $606m (€542m) last year as the company’s market leading fleet continued to deliver value for shareholders.
Irish-based aircraft leasing company Avolon is in talks with China’s AVIC Capital Company over the possible sale of the business, the Chinese company said in a statement to the Shanghai Stock Exchange.
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