Avolon acquires 118 aircraft in $5 Billion takeover of Castlelake Aviation
Dublin-based lessor Avolon has completed a $5 billion takeover of Castlelake Aviation Limited, increasing its portfolio to 1,129 aircraft.
On January 17, 2025, Avolon confirmed that the acquisition, first announced in September 2024, would see 106 leased planes join the company fleet, as well as commitments for 10 new-technology aircraft.
Castlelake established Castlelake Aviation in 2021 to finance modern, fuel-efficient aircraft, and saw its aircraft portfolio grow to over $5 billion of asset value.
Commenting on the deal in September 2024, Joe McConnell, Partner and Deputy Co-Chief Investment Officer at Castlelake, said: “With this agreement, we’re pleased to achieve what we believe to be a great outcome for all involved parties. We’re proud of the incredible accomplishments of CA Ltd., thank our investors and partners for their support and look forward to reinvesting the proceeds of this transaction into new opportunities to provide innovative financings to airlines and leasing companies.”
Castlelake has been a strategic partner and active capital provider to aviation asset owners and lessees since its inception in 2005, having invested over $21 billion in aviation opportunities, acquired more than 650 aircraft and developed relationships with approximately 200 airlines.
The agreement will see a diverse mix of narrowbody, widebody and regional jets join Avolon, which is the second largest leasing company in the world.
Also speaking in September 2024, Andy Cronin, CEO at Avolon, said: “This transaction accelerates our growth plans, adding a portfolio of assets that will further strengthen our cashflow and earnings profile. Our balance sheet strength, high levels of liquidity, and established capital markets access have enabled us to acquire these assets. They are complementary to our existing portfolio and will increase our fleet at attractive yields, supporting our positive ratings trajectory.”
Avolon was advised on completion of the transaction by Clifford Chance and KPMG.
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Avolon to acquire Castlelake Aviation’s $5 billion portfolio of 118 aircraft
The post Avolon acquires 118 aircraft in $5 Billion takeover of Castlelake Aviation appeared first on AeroTime.
Dublin-based lessor Avolon has completed a $5 billion takeover of Castlelake Aviation Limited, increasing its portfolio to 1,129…
The post Avolon acquires 118 aircraft in $5 Billion takeover of Castlelake Aviation appeared first on AeroTime.
