Avolon, the Dublin-based aviation finance company, has reported a robust set of results for the third quarter of 2025, underscoring continued momentum in aircraft leasing and trading. Net income rose by 24% year-on-year to US$149 million, driven by sustained demand for aircraft and a buoyant trading environment. Lease revenue for the quarter reached US$691 million, up 2% from Q3 2024, while operating cash flow came in at US$539 million, contributing to a twelve-month total of US$2.1 billion.
The company strengthened its financial position by raising US$2.2 billion in new financing, including US$1.9 billion in unsecured notes and US$260 million in unsecured bank facilities. It also repaid US$829 million in secured debt and completed a US$1 billion tender offer for senior unsecured notes due in 2027. Despite a 22% decline in total available liquidity to US$9.0 billion, Avolon’s balance sheet remains solid, with a 76% unsecured debt ratio and net debt to equity at 2.5x. The company also holds US$23 billion in unencumbered assets.
Fleet activity was equally dynamic. Avolon finalised an incremental order with Airbus for 90 aircraft—75 A321neo and 15 A330neo—scheduled for delivery through 2033. During the quarter, it acquired 17 aircraft, sold 15, and agreed to sell 60 more. Eight aircraft were placed from its orderbook, which is now 99% placed for the next 24 months. As of September 30, Avolon’s owned, managed, and committed fleet stood at 1,159 aircraft, including 522 new technology aircraft.
Governance changes also marked the quarter, with Chris Jin returning as Chairman of the Board, replacing Zhang (Jason) Can, who remains a Non-Executive Director. Ding Chen joined the Board as a Non-Executive Director, while Shen Yan and Julian Wang retired.
Commenting on the results, CEO Andy Cronin said, “Our positive financial performance continued in Q3, with net income up 24%, reflecting sustained demand for our aircraft and an active trading market. We continue to strengthen our balance sheet and increased our unsecured debt ratio to 76%. With 99% of our deliveries placed over the next two years, demand for our aircraft remains exceptionally strong.”
Avolon’s Q3 results reflect its strategic focus on fleet modernisation, financial resilience, and global customer engagement, positioning it well for continued growth in the aviation leasing sector.
