Japanese Orix Corp. signed an agreement to acquire the British manufacturer of airline components AerFin Ltd. for 100 billion yen ($640 million), including debt obligations. This is reported by foreign media.
The transaction is expected to be completed at the end of 2026. The deal aims to expand Orix's services in the aviation sector by recycling components from decommissioned aircraft. From Orix's point of view, the business has prospects given the possible shortage of spare parts due to production disruptions and labor shortages.
In 2018, Orix acquired a 30% stake in Avolon Holdings Ltd, an aircraft rental company. from the Chinese HNA Group Co. for $2.21 billion in one of the largest deals in the company's history.
AerFin is an unregistered company that buys old planes, engines, and spare parts, assembles components that are still usable, and then sells them to airlines and maintenance companies. According to her website, she has more than 600 clients and an annual revenue of about $370 million.
Orix is a Japanese financial company with headquarters in Tokyo (Japan). The company is engaged in aircraft leasing and has a fleet of 240 aircraft through its subsidiary Orix Aviation.
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