Irish lessor Avolon completed the acquisition of New York-based CIT Group’s leasing business April 4 at a sale price of $10.4 billion. The transaction makes Avolon the world’s third largest lessor with a fleet of 868 aircraft worth over $43 billion, as of Dec. 31, 2016. The acquisition doubled Avolon’s size, as the company absorbed CIT Group’s fleet of 334 owned and managed aircraft, plus a further 133 aircraft the company had ordered or committed to ...

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