CK Asset Holdings is selling its leased aircraft to a joint venture involving the Carlyle Group for $ 4.28 billion as the aviation industry continues to face severe coronavirus challenges.
As risk and return dynamics become increasingly volatile, the industry has moved to increased levels of consolidation, mergers and acquisitions, CK Asset said.
“After an internal consolidation of the group’s aircraft leasing activities, we considered it an opportunity for the group to leave the sector, and to strengthen its strategic focus during the pandemic,” the company said.
The move of CK Asset follows the trend of consolidation in the field of aircraft leasing.
In March, General Electric agreed to combine aircraft leasing unit GE Capital Aviation Services with rival AerCap Holdings in a $ 30 billion deal to create a leasing colony of more than 2,000 aircraft.
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Source From: Capital
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