Executed 237 lease transactions during 2022;Delivered, transitioned and sold a total of 107 aircraft;Agreed a landmark transaction with Malaysia Airlines for the financing of 20 A330-900neo aircraft valued at over $2 billion;Raised $2.2 billion of new financing and increased total revolving debt capacity to over$6.0 billion;Received inaugural ESG Rating of 16.0 (‘Low Risk’) from Sustainalytics; andPartnered with global aviation leaders on a Sustainable Aviation Fuel feasibility study.
Avalon, the international aircraft leasing company, issues an update for the fourth quarter (‘Q4’) and 2022 full year (‘FY’).
Andy Cronin, CEO Avolon, commented: “2022 was a successful year for Avolon as borders reopened around the globe and our customers returned to the skies, capitalising on the pent-up demand for travel. This appetite for travel was reflected in the increased utilisation of our fleet compared to 2021, with demand for both our new and used aircraft support- ing our strong leasing and trading activity.
As we enter 2023, the outlook for the business is positive; we have an industry leading platform, an orderbook of new technology aircraft, a global footprint and a robust balance sheet. We are well positioned to continue to support our customers and capitalise on the improving market backdrop.”
Q4 BUSINESS HIGHLIGHTS
- Executed a total of 75 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
- Delivered a total of 25 new aircraft to 7 customers and transitioned 8 aircraft to follow-on lessees;
- Sold 18 aircraft; and
- Announced a partnership with Boeing, ORIX Aviation, SFS Ireland and SkyNRG, to conduct a feasibility study into the production of Sustainable Aviation Fuel (SAF).
2022 FULL YEAR HIGHLIGHTS
- Executed a total of 237 lease transactions comprising new aircraft leases, follow-on leases and lease extensions;
- Delivered a total of 35 new aircraft and transitioned 35 aircraft to a total of 27 customers;
- Sold 36 aircraft in 2022;
- Owned and managed fleet of 576 aircraft at year end, with total orders and commitments for 258 fuel-efficient, new technology aircraft;
- Added 10 new customers during 2022, for a total of 146 airline customers operating in 63 countries;
- Raised $2.2 billion of new debt, including Avolon’s inaugural JOLCO financing;
- Upsized unsecured revolving facility to $4.6 billion, bringing total revolving debt capacity to over $6.0 billion at year end;
- Fully placed our order for 500 Vertical Aerospace eVTOLs and delivered our first A330 to IAI for conversion to dedicated freighter; and
- Received inaugural ESG Rating from Sustainalytics with a score of 16.0 placing Avolon in the ‘Low Risk’ category and the top 5% of our industry grouping.
