DONAL BOYLAN, a former Royal Bank of Scotland executive, has been appointed chief executive of Hong Kong Aviation Capital (HKAC), the firm's parent companies, HNA Group Company Limited (HNA) and a Bravia Capital (Bravia) of Hong Kong have announced.
HKAC will now focus on the acquisition of new aircraft transactions after moving to stabilise the Allco portfolio (acquired in January 2010), re-establish banking relationships as well as managing the remarketing and lease extensions of eight aircraft in 2010.
HKAC is now positioned for accelerated acquisition, international expansion and continued industry leadership with the appointment of Mr Boylan, a company statement said.
The company expects to acquire up to 25 additional aircraft in 2011. To that end, seven new Airbus A320-200 aircraft have been finalised and three have recently been delivered to Wizz Air and Indigo Airlines, the statement said.
"Donal is the right executive to drive Hong Kong Aviation Capital's strategy of strong growth. His vast market-oriented industry experience will be a valuable asset in reinforcing the company's position in aircraft investment worldwide," said Bravia Capital CEO Bharat Bhise.
Said Mr Boylan: "I am pleased to join an industry leader such as Hong Kong Aviation Capital. From the base of the Allco aviation portfolio the company has built a solid remarketing and asset management team, and I believe that we have several exciting opportunities to capitalise on that momentum to further develop the business and deliver value to our shareholders."
Mr Boylan has worked with Hong Kong Aviation Capital 2009, playing an integral role in the company's formation, business planning and administration. From 2004 through 2009, he served as the head of Aerospace & Defence at the Royal Bank of Scotland. His experience includes 20 years of industry experience in technical and commercial roles at GPA Group plc, GE Capital Aviation Services (GECAS), and RBS Aviation Capital.
Bravia Capital is a Hong Kong-based investment advisory, private equity firm with a primary focus on transport and logistics. Based in Haikou and Beijing, HNA is a leading China-based conglomerate with substantial interests in tourism, transport, financial services, real estate, infrastructure and logistics. HKAC, with offices in Sydney and London, is a diversified commercial aviation investment house. It also provides aircraft management and advisory services.