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Business deals

HNA's deal with Orix will bolster operations, says Avolon CEO

Deal distances jet leasing company from Chinese parent's debt problems

Air India is one of 156 global customers of jet lessor Avolon Holdings.   © Reuters

HONG KONG -- Under the wing of China's acquisitive HNA Group, Avolon Holdings rose in little over a year from being the world's 11th largest jet leasing company to the third-biggest.

Chief Executive Domhnal Slattery, who founded the company in Ireland in 2010, told the Nikkei Asian Review that a deal reached this week for Japanese financial services company Orix, which has its own jet leasing business, to take a 30% stake in Avolon will help it climb higher.

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