Avolon, the Dublin based international aircraft leasing company, has issued an update for the second quarter of 2021. In what has been a challenging time for lessors, the company still executed 48 lease transactions in the quarter, comprising new aircraft leases, follow-on leases and lease extensions. Avolon also sold 3 aircraft and entered into Letters of Intent for the sale of 12 owned aircraft during the quarter. They delivered 8 new aircraft to 6 customers and transitioned 5 aircraft to follow-on lessees. At the end of the quarter, Avolon now has 149 airline customers operating in 62 countries, an owned and managed fleet of 581 aircraft and total orders and commitments for 256 fuel-efficient, new technology aircraft.
During the quarter, rating agencies Moody’s and Fitch improved Avolon’s credit outlook to Stable. The other highlight of the quarter was the world’s largest zero-emissions eVTOL aircraft order through its affiliate Avolon-e. The company will be a launch customer for Vertical’s VA-X4 with a commitment for up to 500 electric aircraft valued at $2 billion. They will join Microsoft, Rolls-Royce, Honeywell and American Airlines as equity investors in Vertical.
