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Cheung Kong withdraws from aircraft leasing to cash in at 33.2 billion-Hong Kong Economic Journal website hkej.com

December 25, 2021
Source: newsdirectory3.com newsdirectory3.com
News Snapshot:
Under the epidemic, business and tourism activities have been greatly reduced, a large number of aircraft have been grounded, and the aviation industry has been severely affected. Cheung Kong Group (01113) has decided to withdraw from the aircraft leasing business and will sell its holdings for a total consideration of US$4.281 billion (approximately HK$33.179 billion) Two aircraft leasing companies with 125 aircraft, to the investment platform of the fund company Carlyle, are expected to generate a total profit of approximately US$170 million (approximately HK$1.318 billion) from the sale. The net proceeds from the sale are intended to be used for...
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