BoC likely buyer of RBS aircraft unit

Bank of China (BoC; 601988.SH, 3988.HK) is the leading contender to purchase the Royal Bank of Scotland’s (RBS.LON) aircraft leasing unit, Reuters reported, citing a report in the Sunday Times. RBS tried and failed to sell Dublin-based subsidiary RBS Aviation Capital last year to raise cash, but this time success appears more likely. BoC, General Electric (GE.NYSE) and private equity firm Terra Firma are among eight parties which have expressed interest in acquiring the company. The Sunday Times report did not cite sources for its assertions regarding the relative standing of the BoC bid. The UK government currently owns 83% of RBS, following a bailout during the financial crisis.