Avolon, an aircraft leasing company based in Dublin and Hong Kong, reported that its owned, managed and committed fleet grew 69% in 2016 to 435 aircraft by the end of 2016. The company claimed that the fleet will double in 2017 on completion of the acquisition of the aircraft leasing business of CIT Group.

In 2016, the leasing company had a completion of $7.6 billion acquisition by Bohai Capital and delisting from NYSE. At the same time, it has integrated Hong Kong Aviation Capital (HKAC) into Avolon.

The company also acquired $2 billion portfolio of 45 aircraft from GECAS and increased secured and unsecured committed debt facilities by a total of over $2.4 billion. The biggest milestone in 2016 for the company was the agreement to acquire the CIT Group aircraft leasing business for $10 billion.

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Avolon, an international aircraft leasing company, announces that it has placed 35% of the US$8.5 billion debt financing facilities, led by Morgan Stanley & Co. (Morgan Stanley) and UBS Investment Bank (UBS), for the acquisition of the aircraft leasing business of CIT Group.
 

In 2016, Avolon has delivered 74 aircraft and sold 35 aircraft. Its owned, managed and committed fleet increased by 69% year over year to 435 aircraft at the end of 2016.

Total customer base increased to 85 airlines in 40 countries by the end of 2016.