Wednesday, 7 April 2021

Avolon's first quarter highlights


One of the leading aircraft leasing firms, Avolon,  has released the highlights of its operations during the first quarter of this year, 

The company, with its HQ in Ireland and offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, completed 31 lease transactions during the quarter.  These were made up of new lease deals,  follow-ons and lease extensions as airlines start to emerge from the global shutdown following the pandemic.

Avolon provides aircraft leasing and lease management services to a wide variety of airline clients around the world.  It is the world’s third-largest aircraft leasing business with an owned, managed and committed fleet, as of 31 March 2021 of 842 aircraft.

Q1 Highlights  
 

-       Executed a total of 31 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;

 

-       Entered into Letters of Intent for the placement of 27 owned aircraft;

 

-       Sold 2 aircraft during the quarter;

 

-       Delivered a total of 8 new aircraft to 6 customers and transitioned 3 aircraft to follow-on lessees;

 

-       Ended the first quarter with a total of 146 airline customers operating in 61 countries;

 

-       Agreed an option to defer 34 single-aisle and 3 twin-aisle order book commitments from the 2022/23 period to 2025 and beyond, and;

 

-       Owned and managed a fleet of 578 aircraft at quarter-end, with total orders and commitments for 264 fuel-efficient, new technology aircraft.

 
Total available liquidity of approximately $7 billion at quarter-end;
 

Closed a private offering of senior unsecured notes, with an aggregate principal amount of $1.5 billion, and historically low coupon rates of 2.125% and 2.75% for 2026 and 2028 maturities respectively, and;
 

Proactively repaid approximately $740 million of secured debt, $470 million of which continues to be available through revolving facilities.



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