07 July, 2023

Avolon's brief update on Q2 activity....

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;