Avolon, Lesha Bank agree aircraft portfolio deal

Avolon and Lesha Bank have agreed to the sale and purchase of a portfolio of 33 aircraft leased to 25 airlines worldwide, the aviation finance companies said.

The transaction marks an expansion of the relationship between Avolon and Lesha Bank and highlights continued institutional investor demand for leased aircraft and other aviation assets.

Following completion, the portfolio will be managed by Lesha Aviation Services, taking Lesha Bank’s total managed fleet to more than 75 aircraft.

“Aviation trading is a core part of Avolon’s strategy, enabling us to actively manage our portfolio, realise value and recycle capital,” Avolon Chief Executive Andy Cronin said.

He added that the agreement reflected continued investor demand for aviation assets and the scale of Avolon’s global platform.