Avolon Agrees Transactions For Over 100 Aircraft In The Second Quarter
Avolon, one of the largest aircraft leasing companies in the world, has released its 2022 Q2 Business Update. During the quarter the firm executed a total of 54 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions. It entered into Letters of Intent for the sale and leaseback of 13 aircraft and the placement of 31 aircraft from its orderbook.
Some other highlights include:
- Delivered 1 aircraft and transitioned 9 aircraft to follow-on lessees;
- Sold 2 aircraft during the quarter and entered into binding sale agreements for the sale of 30 owned aircraft;
- Ended the second quarter with a total of 146 airline customers operating in 62 countries;
- Owned and managed a fleet of 591 aircraft at quarter end, with total orders and commitments for 260 fuel-efficient, new technology aircraft;
- Extended the maturity date of Avolon’s secured recourse revolving credit facility from 2024 to 2027. Post the extension, the total facility size will be $745 million;
- Received inaugural ESG Rating from Sustainalytics with a score of 16.0 placing Avolon in the ‘Low Risk’ category and the top 5% of our industry grouping; and
- During the quarter, Fitch affirmed Avolon’s credit rating at BBB- with a Stable outlook.
Avolon was founded by Dómhnal Slattery in May 2010 and has quickly grown to become the second-largest aircraft lessor in the world. In June 2021, Avolon announced the world’s largest order for eVTOL aircraft, with an order for 500 VX4s from Vertical Aerospace.
About the Author
Mark Dwyer Mark is an airline pilot flying the Boeing 737 for a major European airline. In addition he is also a Type Rating Instructor, Type Rating Examiner and Base Training Captain on the B737. Outside of commercial flying Mark enjoys flying light aircraft from the smallest 3 Axis microlights up to heavier singles. He is also an instructor and EASA Examiner on single engines and a UK CAA Examiner. He flies the Chipmunk for the Irish Historic Flight Foundation (IHFF). Mark became the Chairman of the National Microlight Association of Ireland (NMAI) in 2013 and has overseen a massive growth in the organisation. In this role he has worked at local and national levels. In 2015, Mark won ‘Upcoming Aviation Professional Award’ at the Aviation Industry Awards sponsored by the IAA. Mark launched this website back in 2002 while always managing the website, he has also been Editor and Deputy Editor of FlyingInIreland Magazine from 2005 to 2015.
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