Singapore Aircraft Leasing Enterprise, a Bank of China unit, said it won't buy Pegasus Aviation Finance Co, passing up on an opportunity to expand its aircraft leasing business in the United States.

Oaktree Capital Management LLC, a Los Angeles buyout firm with more than US$32 billion in assets, plans to sell its aircraft-leasing unit to take advantage of record orders for commercial planes.

Macquarie Bank Ltd, Australia's largest securities firm, Babcock & Brown Ltd and Allco Finance Group Ltd are among the bidders for Pegasus, people with knowledge of the sale have told Bloomberg News.