| 6.6°C Dublin

Big names form aircraft leaser

A heavy-hitting group of veteran Irish aviation executives has come together to help launch a major new international aircraft leasing business that will focus on Asia and require hundreds of millions of dollars in financing, the Herald has learned.

It is not clear at this stage if the new venture, Octagon Aviation Capital, is linked to Shannon-based Gecas, the world's biggest aircraft leasing firm.

Among those spearheading Bermuda-based Octagon is Eamonn Cronin, a former vice president of finance at AWAS, one of the world's biggest aircraft leasing firms.

Like most of the world's top aircraft leasing firms, AWAS has its main office in Dublin. AWAS is owned by private equity firm Terra Firma.