CK Asset Exits Aircraft Leasing Business With $4.28 Billion Sale
- Carlyle-owned Maverick Aviation to buy 125 aircraft from units
- Covid-19 has caused a ‘paradigm shift’ in business, CK says
The Cheung Kong Center building, which houses the head offices of CK Asset Holdings, in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
CK Asset Holdings Ltd. said it’s exiting the aircraft-leasing sector due to a “paradigm shift” caused by the coronavirus pandemic, selling two indirect wholly-owned subsidiaries to Maverick Aviation Partnership LP for $4.28 billion.
The company is selling Accipiter Finance for about $2.44 billion and Manchester Aviation Finance for $1.84 billion, according to a filing to the Hong Kong stock exchange Friday. The first sale involves 74 aircraft and their leases and the second involves 51. Both also include planes on order.