Irish lessor Avolon more than doubled its owned and managed fleet to 565 aircraft in the first-quarter of 2017 compared to the year-ago quarter, the company reported April 18. Avolon acquired CIT Aviation, the aircraft leasing business of New York-based CIT Group, during the quarter, a $10.4 billion transaction. The purchase made Avolon the world’s third largest aircraft lessor, with a complete owned, managed and committed fleet of 850 aircraft as of March 31. Avolon and CIT Aviation ...

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