11 October, 2022

Third quarter update from leasing firm Avolon....

Another aircraft leasing firm has released details of its performance in the third quarter of 2022. Avolon advise us they have executed a total of 54 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;

-       Agreed a landmark transaction with Malaysia Airlines for the financing of 20 A330-900neo aircraft valued at over $2 billion;

-       Sold 13 aircraft during the quarter;

-       Entered into Letters of Intent for the sale of 7 owned aircraft;

-       Delivered a total of 4 aircraft to 3 customers and transitioned 7 aircraft to follow-on lessees;

-       Ended the first quarter with total of 149 airline customers operating in 63 countries;

-       Owned and managed fleet of 568 aircraft at quarter end, with total orders and commitments for 265 fuel-efficient, new technology aircraft;

-       Upsized unsecured revolving credit facility by $0.2 billion bringing the total facility size to $4.6 billion and executed a $0.7 billion term financing facility maturing 2029;

-       Post quarter end, Avolon announced that it had further strengthened its Leadership team with appointments to the roles of Chief Financial Officer (CFO), Chief Operating Officer (COO) and Chief Risk Officer (CRO),

·         Ross O’Connor, Avolon’s Head of Capital Markets, has been appointed as CFO;

·         Felipe Campos, Avolon’s Chief Technical Officer, has been appointed as COO; and

·         Jim Morrison, Avolon’s Head of Portfolio Management, has been appointed as CRO.