A year after losing out in the bidding for RBS' aircraft-leasing unit, Wells Fargo (WFC) is...

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

A year after losing out in the bidding for RBS' aircraft-leasing unit, Wells Fargo (WFC) is starting its own far-smaller effort, teaming with Ireland's Avolon to build an initial fleet of 10 jets valued at $500M. Avolon chief Domhnal Slattery speaks of a "void" in the sector due to capital-strapped EU banks pulling out of the business.