Guy Hands looks to buy RBS aircraft finance wing

GUY Hands is keen to swoop on Royal Bank of Scotland’s aircraft financing division with a £4bn bid.

The financier wants to merge RBS Aviation Capital with Awas, the plane leasing firm owned by his investment fund Terra Firma.

If he pulls off the acquisition, his jet hire business would be the third biggest in the world.

It would also mark a return to big investment for Hands, who lost control of music group EMI five months ago when it was seized by Citigroup because it could not meet loan requirements.

However a source close to the deal told City A.M. there had been no formal approach and there was likely to be up to a dozen bidders

Goldman Sachs has been appointed to contact interested parties.