- December 24, 2021
- Posted by: Stratford Team
- Category: Business
By P.R. Venkat
CK Asset Holdings Ltd. is selling its aircraft-leasing business to a consortium involving private-equity firm Carlyle Group Inc. for $4.28 billion as the airline industry continues to face severe challenges from Covid-19.
As risk and return dynamics became increasingly volatile, the industry has experienced increased levels of consolidation, mergers and acquisitions, CK Asset said Friday.
Since the start of the pandemic in late 2019, the aviation sector has been struggling as governments worldwide imposed movement restrictions that crimped demand for leisure and business travel. Though borders started reopening as vaccinations brought the pandemic somewhat under control, the sector continues to face headwinds from new variants of the virus. The latest variant, Omicron, is now pushing some countries to reimpose some of the curbs that were eased mid-year.
“Following an internal consolidation of the group’s…
