Another UK-listed business might be heading into the arms of US private equity according to Sky News, with civil aircraft lessor Avation apparently in the sights of Azorra Aviation.
Backed by US$200-billion US investment group Oaktree, Azorra is drawing up bid plans for Avation, according to the report, though other parties are also said to be interested.
Avation has been recovering strongly after a tough time during the pandemic, which has seen its fleet now streamlined to around thirty aircraft serving airlines such as easyJet and VietJet Air.
Shares in the main market-listed Avation rose by 4% to 179.5p on the report, close to a four-year high and valuing the business at around £123 million.