(China Knowledge) - The board of Bohai Financial Investment Holding Co., Ltd <000415>,
listed in the Shezhen Stock Exchange, has approved its offer to buy U.S-based
CIT Group's C2 Aviation for USD 10.057 billion. This acquisition will rank the
combined fleets of aircraft to be the third largest in business of aircraft
financing which has seen many Chinese financial institutions' flow of
Today some 60% of the world's top 20 aircraft
leasing companies received investments or were acquired by Chinese companies.
According to International Air Transport
Association's (IATA) estimate, by 2020, aircraft leasing companies owns and
managed about 50% of all commercial aircrafts.
In Jan 2016, Bank of China's BOC Aviation, its
aircraft leasing arm, successfully launched its IPO in the Hong Kong Stock
Exchange raising USD 1.1 billion, the largest in this trade.
Besides the commercial aircraft leasing business
China is also a growing market for private jets which are seeing increasing use
by entreprenuers, corporate leaders and celebrity actors.