Seven final round bidders for Allco Aviation, but David Veal leaves

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05 February 2009

The strong shortlisted bidding group means a successful sale of Allco's aircraft leasing business is now likely. However David Veal's resignation could complicate the sale.

Seven firms have made it through to the second bidding round for Allco Aviation, but the sale may be complicated by the resignation of David Veal, the head of the Australian finance company's aircraft leasing division. The seven shortlisted firms are: Bravia Capital Partners, a New York leasing company that specialises in financing Chinese and Indian carriers; BOC Aviation, the Singapore aircraft leasing subsidiary of Bank of China; GAAM, the Australian lessor financed by the Lieberman wine family; Indigo Partners, the specialist US aviation investment firm; Terra Firma, the private equity owner of Awas; fellow Australian finance company Macquarie; and South Africa's Standard Bank. John Kinghorn, the founder of Allco, is believed to have been one of approximately 25 bidders in the first round but has not...

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