综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Companies

Hainan Air to buy major leasing firm

By ZHU WENQIAN (China Daily) Updated: 2016-10-08 09:49

Hainan Airlines Co Ltd, China's largest private airline, and a subsidiary of conglomerate HNA Group, has agreed to buy CIT Commercial Air, US commercial lender CIT Group Inc's aircraft-leasing unit and a leading player in the segment, for $10 billion.

The transaction is expected to close by the first quarter of 2017 after regulatory and shareholder approval. Chen Feng, chairman of Hainan Airlines, will control the largest Chinese-owned fleet of leasable aircraft.

HNA's Avolon Holdings Ltd will expand its fleet to 910 aircraft valued at more than $43 billion, according to a statement issued on Thursday by Ireland-headquartered Avolon Holding Ltd, an international aircraft-leasing company and a wholly owned subsidiary of Shenzhen-listed Bohai Capital Holding Co Ltd, a subsidiary of HNA Group.

Li Xiaojin, a professor at Civil Aviation University of China in Tianjin, said: "As a diversified enterprise, acquiring an aircraft-leasing and lease management services company will help HNA Group expand its global aircraft leasing business coverage."

China has become the most dynamic market for international air travel, due to strong domestic and overseas travel demand, and a rising middle class. In the next two decades, China is likely to become the first country with an aviation market exceeding $1 trillion, according to a recent report by Boeing Co.

By the end of June, CIT Group held total assets of $11.1 billion and liabilities of $1.7 billion.

"The sale of CIT Commercial Air represents an important milestone for CIT. This transaction will strengthen our balance sheet, simplify our business and enable us to return significant capital to our shareholders," said Ellen R. Alemany, chairwoman and CEO of CIT Group.

The move is part of the ongoing trend of HNA Group acquiring overseas assets to recombine and step up its domestic and global expansion. The deal would add to a string of overseas acquisitions of HNA Group, whose assets are now valued at more than 600 billion yuan ($90 billion).

Hot Topics

Editor's Picks
...
岱山县| 永福县| 买车| 衡阳县| 汝州市| 兴安盟| 吴忠市| 巫溪县| 灌南县| 西宁市| 辉县市| 靖远县| 武冈市| 永寿县| 静安区| 绥阳县| 肇州县| 许昌县| 安康市| 玛曲县| 池州市| 南溪县| 阿坝县| 剑川县| 岳池县| 马关县| 自贡市| 德昌县| 河源市| 东兴市| 乐平市| 宣化县| 澄城县| 招远市| 平谷区| 合作市| 方山县| 崇义县| 米易县| 玛曲县| 江城|