RBS Aviation sale underway

BANK of China has emerged as a leading contender in the race to snap up the aircraft leasing business being sold off by Royal Bank of Scotland.

The bank said its aircraft leasing division RBS Aviation Capital was on the block again, a year after it shelved a previous sale attempt.

Bank of China, General Electric and private equity firm Terra Firma are among eight parties interested in the Dublin-based business.

An RBS spokesman said: “The sale process for RBS Aviation Capital is underway following significant expressions of interest.”