SMBC Aviation Capital and Hong Kong Aviation Capital have reportedly offered bids to acquire Awas Aviation Capital’s aircraft assets.
It is reported that Terra Firma Capital Partners-owned aircraft leasing firm Awas Aviation has asked for a second round of bidding for approximately 100 new airliners, which are being sold for roughly $5bn.
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SMBC Aviation and Hong Kong Aviation are the latest to join the bidding process for Awas’ assets, which already received a preliminary offer from Hong Kong-headquartered Cheung Kong Holdings.
Awas Aviation CEO Ray Sisson earlier said that the company’s asset value will increase to $17bn in 2016 from the current $11bn.
The sale of 100 new aircraft from its fleet is part of Awas’ breakup process that was started in July. The breakup could value the aircraft lessor at approximately $13bn.
The Dublin-based leasing firm plans to take its remaining aircraft portfolio public through an initial public offering, which could value the assets at $8bn.
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By GlobalDataUK-based Terra Firma Capital acquired Awas from Morgan Stanley in March 2006 for $2.5bn.
In 2007, Awas bought Pegasus Aviation Finance from funds managed by Oaktree Capital Management and Pegasus management.
Following the transaction, Pegasus and Awas were merged to create the world’s third-largest aircraft leasing business.
Awas currently has a portfolio of more than 300 aircraft, which are on lease to over 100 airline customers in 50 countries.
