Castlelake to buy planes from AirAsia for $800m

U.S. private investment firm Castlelake LP is to buy a portfolio of about 30 narrowbody planes from AirAsia Group Bhd for a total price of $800m. The deal underscores the strong appetite of funds to invest in the global aircraft leasing sector, which is benefiting from growing demand on the back of a rise in low-cost carriers and passenger traffic.