Bohai Leasing Co., Limited Arranges US$300m for principal Aircraft Leasing Subsidiary, Hong Kong Aviation Capital
Shenzhen – Bohai Leasing Co., Limited (000415.CH) (“Bohai”) today announced that it has arranged an additional US$300 million to further grow the business of its principal aircraft leasing subsidiary, Hong Kong Aviation Capital Limited (“HKAC”).
The new funds will be provided by a Bohai affiliate for a stake in an aircraft leasing investment vehicle. This investment is in addition to the increase of HKAC’s capital expected from Bohai’s planned 16 billion Yuan fund-raising announced on April 20, 2015.
Since its formation in 2010, HKAC has pursued a strategy of growth, which picked up following its acquisition by Bohai in 2012. This new capital extends HKAC’s capability to add to its fleet of modern commercial passenger aircraft and furthers its goals of an expanded footprint in the global aviation market and the creation of long term shareholder value through size and scale.
The investment represents another step in Bohai’s strategy of quantum increase of its leasing operations and particularly the development of its offshore businesses and revenue base.
HKAC (www.hkac.com) is a leading aircraft lessor of scale, with a quality portfolio and global reach, with offices in Hong Kong, Dublin and New York. HKAC combines investment expertise in commercial aircraft leases and financial instruments with aircraft management and advisory services. HKAC has a fleet of more than 150 aircraft (including those delivered and committed) and leases to customers across the globe.