New shareholder in AerDragon

Victoria
By Victoria May 8, 2013 13:47

New shareholder in AerDragon

East Epoch Limited (East Epoch) has agreed to become a new shareholder of AerDragon Aviation Partners Limited (AerDragon), AerCap Holing’s operating lease joint venture that primarily serves the aviation markets in China and Asia.
East Epoch’s main investor is Hsu Pu, who was the Chairman of the Board of Hsu Fu Chi International Group, best known for founding the largest confectionary company in China. China Aviation Supplies Holding Company (CAS), a founder of AerDragon, will simultaneously increase its investment in AerDragon. This is in addition to the previously announced capital increase agreed by CAS and the other founders of AerDragon, AerCap and Crédit Agricole CIB (CA-CIB).
The new investments when completed will bring AerDragon’s total share capital to $268 million.
Aengus Kelly, Chief Executive of AerCap, said: “Partnering with East Epoch provides AerDragon with an attractive new source of capital. This transaction, together with the increased commitment from CAS, will lead to accelerated growth at AerDragon and will help the venture to expand its aircraft portfolio.”
AerDragon was established in 2006 by CAS, AerCap and CACIB. It currently has 18 aircraft on lease to eight airlines. The venture comprises AerDragon Aviation Partners, based in Shannon, Ireland and Dragon Aviation Leasing, based in Beijing, People’s Republic of China.

Victoria
By Victoria May 8, 2013 13:47
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