ORIX Aviation Group Announces Departure of David Power

ORIX Aviation announced today that David Power will leave the ORIX Aviation Group. David has stepped down as Chairman of ORIX Aviation Hong Kong and as the ORIX Director of Avolon.

Having worked at ORIX since 1991, David was appointed as CEO in 2003 and then led the company to new heights. Under his leadership ORIX Aviation was transformed into the entity it is today, being one of the most significant traders of commercial jet aircraft worldwide. In 2018 David stepped down as Group CEO and moved to Hong Kong to develop ORIX Aviation’s presence there, taking up the role of Chairman of ORIX Aviation Hong Kong Limited and to serve as an ORIX Director on the Board of Avolon.

“Having worked with ORIX Aviation for almost 30 years I am extremely proud of what has been accomplished. Leaving a very strong and committed leadership team in place as I depart ORIX Aviation was one of my key considerations and something I am very proud of” said David.

David will take up the role of executive Director of London based Solus Capital Partners along with other executive roles within the investment funds industry.

James Meyler commented “David’s energy , knowledge and ambition will be missed at ORIX Aviation however due to the extensive advance planning that has been put in place by the management team the transition and hand over of responsibilities at the Company has been really well managed and implemented by us all. Despite the current difficult environment, the team looks forward to a strong recovery and we wish David and his family every success in what, no doubt, will be a long and successful career to come’

About ORIX Aviation Systems:

ORIX Aviation was established in 1991 in Dublin, Ireland and is a 100% subsidiary of ORIX Corporation of Japan. ORIX Aviation owns and manages over 200 aircraft and leases them to more than 50 airlines located in over 30 countries. ORIX Aviation is headquartered in Dublin with offices in Hong Kong and a team of 100 professionals with USD8 billion of aircraft assets under management. In the past 12 months ORIX Aviation has bought, sold or leased over 100 aircraft valued in excess of USD4 billion.

ORIX Aviation is focused primarily on investing and trading opportunities in the aircraft leasing and aircraft asset management space while maintaining a strong balance sheet of owned assets to support stable long term profits and future growth. ORIX Aviation is ranked by S&P Global Ratings as STRONG overall ranking on ORIX Aviation as a commercial aircraft lease servicer. The outlook is stable.

The asset management clients of ORIX Aviation are investors based in Japan, US funds and international banks and financial investors.

About ORIX:

ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.

Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 37 countries and regions across the world.

Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/ 

(As of March 31, 2019)

About Solus Capital Partners

Solus Capital Partners Ltd is an independent asset management firm, authorised and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Established in 2017, with offices in London and Los Angeles’s and operations in both Zurich and HK. Solus provides a global macro- based investment strategy which is an actively managed, unconstrained and multi asset with the flexibility to adapt to the changing macro-economic and financial market backdrop. Clients include professional investors, family offices and institutions. In addition to its core investment management function Solus also provides corporate services to European based family offices and corporate investment funds. These services range through the spectrum from incorporation though to any ongoing administration requirements for the investment vehicle(s). www.soluscapitalpartners.com