Avolon, the international aircraft leasing company, issues an update for the second quarter of 2023, which show the firm executed 31 lease transactions comprising new aircraft leases, follow-on leases and lease extensions.
Entered into letters of intent for the sale and leaseback of 9 aircraft;
Confirmed order for 40 Boeing 737 MAX aircraft and agreed to order 20 Airbus A330neo aircraft;
Delivered 5 new aircraft and transitioned 13 aircraft to a total of 10 customers;
Sold 3 aircraft and executed sale agreements for a further 17 aircraft;
Entered into letters of intent to place 23 aircraft from our orderbook during the quarter;
Added 2 new customers, giving a total of 149 airline customers operating in 65 countries; and,
Ended the quarter with an owned and managed fleet of 578 aircraft, with total orders and commitments for 297 fuel-efficient, new technology aircraft.
Q2 Business Highlights
Fitch improved Avolon’s BBB- rating outlook from Stable to Positive;
Raised US$3.4 billion of debt capital in the quarter, including:
Private offering of US$750 million of senior unsecured notes maturing in 2028;
US$1.7 billion Term Loan B refinancing with new loan maturing in 2028; and,
Letter of intent for a US$950 million term financing facility maturing in 2030;
