SMBC Aviation Capital and Hong Kong Aviation Capital have reportedly offered bids to acquire Awas Aviation Capital’s aircraft assets.

It is reported that Terra Firma Capital Partners-owned aircraft leasing firm Awas Aviation has asked for a second round of bidding for approximately 100 new airliners, which are being sold for roughly $5bn.

SMBC Aviation and Hong Kong Aviation are the latest to join the bidding process for Awas’ assets, which already received a preliminary offer from Hong Kong-headquartered Cheung Kong Holdings.

"The sale of 100 new aircraft from its fleet is part of Awas’ breakup process that was started in July."

Awas Aviation CEO Ray Sisson earlier said that the company’s asset value will increase to $17bn in 2016 from the current $11bn.

The sale of 100 new aircraft from its fleet is part of Awas’ breakup process that was started in July. The breakup could value the aircraft lessor at approximately $13bn.

The Dublin-based leasing firm plans to take its remaining aircraft portfolio public through an initial public offering, which could value the assets at $8bn.

UK-based Terra Firma Capital acquired Awas from Morgan Stanley in March 2006 for $2.5bn.

In 2007, Awas bought Pegasus Aviation Finance from funds managed by Oaktree Capital Management and Pegasus management.

Following the transaction, Pegasus and Awas were merged to create the world’s third-largest aircraft leasing business.

Awas currently has a portfolio of more than 300 aircraft, which are on lease to over 100 airline customers in 50 countries.