Irish lessor Avolon has agreed to acquire US company CIT Group’s leasing business for $10 billion, creating the world’s third largest lessor with a fleet of 910 aircraft worth over $43 billion. Announcing the agreement Oct. 6, Avolon detailed plans to acquire CIT Group’s leasing business, which includes 334 owned and managed aircraft, plus a further 133 aircraft on order or committed. “Avolon will acquire total assets of $11.1 billion as of June 30, 2016 and ...

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