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Hanwha, the seventh largest Korean conglomerate and a Fortune 500 company, has announced the launch of Hanwha Aviation, an engine leasing platform with a long-term vertically integrated strategy for newer generation assets with operations in Singapore, Ireland, and the U.S.
Backed by Hanwha’s extensive experience and expertise in the manufacturing and maintenance, repair and overhaul (MRO) of aero-engines, Hanwha Aviation will be positioned to provide flexible and innovative solutions for aircraft and engine leasing to the industry on a global scale.
“Hanwha Aviation will provide customers and industry partners with a compelling transaction platform for trading, leasing, and asset management of aero-engines and aircraft”, said Jeff Lewis, CEO of Hanwha Aviation based in Singapore.
“Leveraging our vertically integrated approach, we will maintain a full range of engine leasing solutions tailored to our customers’ requirements designed to reduce the financial impact on their operation.”
With the backing of Hanwha, a global top company, this new platform has the financial power to execute both single-asset and large fleet transactions, while minimizing the execution risk to its leasing customers and trading partners.
In the short term, Hanwha Aviation will be focused on acquiring portfolios of narrowbody engines and aircraft, with a target of 1,000-plus assets within the next 10 years to become the premiere aero- engine leasing platform for the aviation industry.
Representatives of Hanwha Aviation will join the forthcoming ISTAT Asia 2024 to be held in Hong Kong from May 7-9, to engage representatives of airlines, lessors, and MROs to introduce the business and discuss partnerships and transaction opportunities.
This press release was prepared and distributed by Hanwha Aviation.
