Carlyle Aviation Partners to buy aircraft leasing firm in $2.36 billion deal

Private equity firm Carlyle Group said on Monday an affiliate of Carlyle Aviation Partners, its aviation investment arm, will buy aircraft leasing company Fly Leasing Ltd for an enterprise value of $2.36b. Shareholders of Fly Leasing would get $17.05 per share in cash, valuing the company at $520m. The price represents a premium of 29% to the stock’s closing price on Friday. “We believe in the long-term resilience of the aviation industry. History tells us when we get past a crisis, we will see a return of traffic as people return to travelling. We think we are buying this at an attractive price,” said Robert Korn, president and co-founder of Carlyle Aviation Partners. The deal with Fly, expected to close in the third quarter of 2021, will use funds from Carlyle Aviation’s fifth aviation fund, SASOF V, the company said.<br/>