Former Allco Aviation CEO David Veal and Allco founder John Kinghorn launch new joint venture that will focus on the acquisition of aircraft and portfolios.
David Veal, the former CEO of Allco Aviation, is setting up a new aircraft leasing company with Allco founder John Kinghorn.
KV Aviation is a joint venture between John Kinghorn, his son Geoff and Veal. It will be headquartered in London with an office in Sydney. Veal is CEO and key personnel will be appointed over the next few months.
The leasing company will target opportunistic direct investments in aircraft and also invest external private equity capital in the aviation sector. Substantial capital is already available for investments.
The new joint venture continues a longstanding business relationship between Veal and the Kinghorns. John Kinghorn founded Allco Finance Group in 1979 and was responsible for its initial involvement in aviation.
“John gave me a great grounding in business,” said Veal, speaking exclusively to Airfinance Journal from Sydney.