Dublin-based aircraft leasing giant Avolon has reported a strong second quarter for 2026, with net income rising 45% year-on-year to US$209 million, underlining the continued strength of the global aircraft leasing market amid ongoing aircraft supply shortages.
The company, one of the world’s largest aircraft lessors, generated lease revenues of US$726 million during the quarter, an increase of 7% compared to the same period in 2025. Operating cashflow reached US$501 million, up 8% year-on-year, while trailing 12-month net income climbed to US$702 million, representing a 31% increase.
Avolon CEO Andy Cronin said the company had delivered “another strong quarter”, highlighting both financial performance and the strengthening of the company’s credit profile. During the period, credit rating agency S&P Global Ratings upgraded Avolon to BBB, bringing it into line with ratings already assigned by Moody’s (Baa2) and Fitch (BBB).
“The upgrade reflects the strength of our business and balance sheet,” Cronin said. He added that strong airline demand and continuing supply constraints across the aerospace sector continue to support the leasing industry’s outlook.
Avolon continued to actively manage its fleet portfolio during the quarter, acquiring 21 aircraft and selling 30. The company ended June with agreements in place to sell a further 109 aircraft and maintains commitments for 503 new aircraft.
The figures underline the confidence major lessors continue to place in long-term air travel growth despite ongoing challenges facing aircraft manufacturers. Delays in deliveries from both Airbus and Boeing have tightened aircraft availability worldwide, increasing demand for leased aircraft and helping support lease rates.
Avolon reported total available liquidity of almost US$12 billion at the end of the quarter, including US$356 million in unrestricted cash and US$8 billion in undrawn debt facilities. Total available liquidity increased by approximately 11% compared to year-end 2025.
The company also continued to improve the quality of its funding structure, with unsecured debt representing 79% of total debt, up from 77% at the end of 2025. Net debt to equity stood at 2.5 times, while the sources-to-uses ratio was reported at 2.0 times. Reflecting the strong financial performance, Avolon’s board approved an interim dividend of US$201 million in respect of the first half of 2026.
Headquartered in Dublin, Avolon remains one of the flagship companies of Ireland’s globally significant aircraft leasing sector. As of 30th June 2026, the company worked with 138 airlines across 60 countries and had an owned, managed and committed fleet of 1,117 aircraft.
