Avolon completes CIT acquisition

Avolon officially completed the acquisition of the aircraft leasing business of CIT Group yesterday (April 4). With this transaction Avolon has doubled its size to become the third largest aircraft lessor with a combined fleet, as of 31 December, 2016, of 868 aircraft valued at over US$43 billion, with an average aircraft age of 4.7 years. Avolon has expanded its customer based into 62 countries serving 149 customers, with one third of in-service aircraft leased into each of the Americas, EMEA and Asia-Pacific regions. Avolon’s total orders and commitments for 301 aircraft include: 196 Airbus aircraft (A320neo family, A330neo and