Irish aircraft leasing company Avolon plans to form a joint venture with Wells Fargo.

The JV, Avalon Capital Partners Limited, will build a fleet primarily through sale and leaseback transactions with airlines on new aircraft, acccording to a press release issued last week. It will focus on young, fuel-efficient single aisle and twin-aisle aircraft with an initial target portfolio size of $500 million. Wells Fargo will be the majority shareholder and provide banking and debt financing facilities for the business.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.