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Hong Kong Billionaire Henry Cheng & Family Buys Irish Plane Lessor for $2.8 Billion

Hong Kong Billionaire Henry Cheng & Family Buys Irish Plane Lessor for $2.8 Billion

Hong Kong billionaire and business tycoon Henry Cheng & family, has acquired Irish plane-lessor Sky Aviation Leasing for $2.8 billion through its subsidiary Goshawk Aviation.  Goshawk Aviation is owned by 2 of Hong Kong’s largest business conglomerates and public-listed companies, Chow Tai Fook (best known for its jewellery business) and NWS Holdings.

” Hong Kong Billionaire Henry Cheng Buys Irish Plane Lessor for $2.8 Billion “

The acquisition of Irish plane-lessor Sky Aviation Leasing, will add 51 planes to Goshawk Aviation to form a total fleet of 183 planes.  The total value of the fleet will be $9.1 billion, and will set Goshawk Aviation to become a top 10 aircraft lessor in 5 years.  Sky Aviation Leasing is owned by Canadian pension fund, the Public Sector Pension Investment Board and private-equity firm ATL Partners.  The transaction is financed through unsecured debt financing and funds from Goshawk main shareholders Chow Tai Fook and NWS Holdings.

Goshawk Aviation is founded in 2013 as a full-service aircraft leasing platform.  It is headquartered in Dublin, Ireland with an Asian regional office in Hong Kong.  The shareholders are public-listed companies in Hong Kong, Chow Tai Fook Enterprises Limited and NWS Holdings Limited.  Both companies are owned by the late Dato’ Dr. Cheng Yu Tung (1925-2016) and family, and now headed by his eldest son, Henry Cheng.

In 2016,  the late Dato’ Dr. Cheng Yu Tung (1925-2016) has an estimated personal net worth of more than $16 billion, and is one of Hong Kong’s wealthiest and most successful businessman.  New World Development Company and NWS Holdings are founded by his eldest son, Henry Cheng, and is estimated to have a net worth of more than $16 billion.

  • Chow Tai Fook (Market Cap $10.52 billion) is owned by the late Dato’ Dr. Cheng Yu Tung and family.
  • Chow Tai Fook is also the controlling shareholder of New World Development Company (Market Cap $14.24 billion), a listed conglomerate in Hong Kong.
  • NWS Holdings (Market Cap $6.84 billion) is the infrastructure and service flagship business of New World Development Company, and is also listed in Hong Kong.

Source: GoshawkBloomberg, The Irish Times

 

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