21 June, 2023
Big orders from leasing giant Avolon at Paris Air Show....
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20 June, 2023
SalamAir, Oman’s low-cost airline to lease three Airbus A330neo aircraft
International aircraft leasing company, Avolon, has announced a firm commitment to lease three Airbus A330neo aircraft to SalamAir, Oman’s value-for-money airline. A letter of intent was signed at the Paris Air Show on 19 June 2023, and the first delivery is expected to be in October 2023.
14 June, 2023
Avolon releases its latest world fleet forecast.....
Asia to lead growth driven by travel demand from rising middle class
Over US$4 trillion will be required to finance new deliveries providing major role for aircraft lessors
Long-term demand to travel to see friends, family and do business undiminished by pandemic
09 June, 2023
Avolon announces extension and upsizing of Term Loan B Facility to $1.7Billion
12 May, 2023
Cebu Pacific gets new Airbus A320neo......
Continued growth in new technology fuel-efficient aircraft
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02 May, 2023
Avolon announces pricing of $750 million senior unsecured notes offering.....
27 April, 2023
Leasing giant Avolon to order 40 Boeing 737 MAX jets
The international aircraft leasing company giant Avolon has announced a commitment to order 40 Boeing 737 MAX aircraft with delivery scheduled to be between 2027 and 2030, despite more production line issues and problems.
18 April, 2023
Avolon delivers 15 Airbus A320neo jets to Vistara
08 April, 2023
Latest results from aircraft leasing firm Avolon
Executed 31 lease transactions comprising new aircraft leases, follow-on leases and lease extensions;Delivered 9 new aircraft and transitioned 9 aircraft to a total of 13 customers;Sold 2 aircraft and agreed letters of intent for the sale of a further 13 aircraft;Executed a $810 million term financing facility maturing in 2030, with a syndicate of 10 banks;Owned and managed fleet of 578 aircraft at quarter end, with total orders and commitments for 252 fuel-efficient, new technology aircraft;Added 3 new customers during the quarter, for a total of 147 airline customers operating in 65 countries;
07 March, 2023
A new Airbus A320neo to ITA Airways
Total of 5 Airbus A320-200neos to be delivered to ITA Airways in 2023
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23 February, 2023
Avolon completes delivery of 15 Airbus jets to IndiGo
Avolon, the international aircraft leasing company, announces it has completed the delivery of 15 A320neo family aircraft to IndiGo, India’s largest passenger airline.
Avolon now has a total of 21 aircraft on lease with IndiGo.
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10 February, 2023
Avolon releases latest results for 2022
07 February, 2023
Leasing giant Avolon delivered five Boeing 737 MAX jets to Akasa Air
Avolon’s first lease deal with India’s newest airline
16 January, 2023
The aviation sector is set to thrive in 2023 with global traffic to reach pre-pandemic levels by June
The aviation sector is set to thrive in 2023 with global traffic to reach pre-pandemic levels by June, according to a paper published today by international aircraft leasing company Avolon.
After a 70% recovery in passenger traffic last year led by recovery in Europe and North America, Asia will drive growth in 2023, helped by the recent reopening in China. For every two seats of airline capacity added in the world today one is in Asia.
The traffic recovery brought the sector back to the brink of profitability in 2022, after combined sector losses of $180bn in 2020 and 2021. A profit of c.$4.7bn is forecast for 2023 as recovery continues.
Avolon’s 2023 Outlook: Climb to Cruise paper, available here reviews trends in the sector for airlines, manufacturers, and lessors. Key findings include:
- Airlines: Airlines’ financial recovery is ahead of their capacity recovery: while air traffic is still 25% below 2019 levels, revenues are just 13% lower as airlines flex their pricing power and raise fares. Demand for travel is no longer the constraint to recovery, but airlines’ capacity to put planes in the air.
- Manufacturers: Delivery delays have become endemic and an aircraft shortage is emerging given the lost production of 2,400 planes that had been planned but were not built due to the pandemic. As traffic flows rebound, the absence of new aircraft is increasing supply tension, supporting long-term residual values.
- Lessors: Airlines have shrunk their owned fleets by 3% since 2019, whereas lessors have grown theirs by 17% and now manage 53% of the global passenger fleet by value. Aviation markets are adjusting to higher interest rates, and lease rates are increasing, creating opportunities for well capitalized investment grade lessors.
- Sustainability: Aviation needs to make greater progress addressing concerns about its long-term environmental impact. Sustainable Aviation Fuel (SAF) production tripled in 2022 but still represents only 1% of the amount hoped to be produced in 2030. Lifting SAF production to 10% of jet fuels will require $250 billion in investment and collaboration between all industry stakeholders.
Andy Cronin, CEO of Avolon commented:
“Aviation has demonstrated its resilience and is ready to thrive having come through a pandemic-driven two-thirds drop in traffic. Airlines, manufacturers, and lessors share an ecosystem that creates opportunities for all but requires collaboration to overcome key challenges including a higher interest rate environment, limited aircraft availability and the need to make further progress on decarbonisation goals.”
“The rebound in 2022 is set to continue in 2023, with China’s reopening helping to drive global traffic levels to pre-pandemic levels by June. Airlines are enjoying higher fares and load factors, and manufacturers are under pressure to ramp up production quicker. Whilst geopolitical and macroeconomic risks remain, this is a positive environment for lessors as supply constraints drive higher lease rates and increase the value of order books.”
11 January, 2023
Avolon's last quarter and full year update...
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.
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10 November, 2022
Avolon, Boeing, ORIX Aviation, SFS Ireland and SkyNRG to assess opportunities for Sustainable Aviation Fuel - SAF production in Ireland
Growth in renewable energy makes Ireland a potential location for SAF production
Growth in renewable energy makes Ireland a potential location for SAF production
SAF can cut sector emissions up to 80% and offer the largest potential to reduce carbon emissions over the next 20 to 30 years in all aviation segments.
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04 November, 2022
Ireland’s Deputy Prime Minister and Minister for Enterprise, Trade, and Employment Leo Varadkar opens Avolon's new Singapore office
Avolon’s Chairman Asia Pacific & Middle East, Simon Hanson, presented Tánaiste Leo Varadkar with a framed collage of the opening of Avolon’s Dublin HQ in 2018. Photo Avolon |
01 November, 2022
Avolon names Doug Keatinge as Head of Communications
25 October, 2022
Avolon's latest results.
- Net Income for the three months to 30 September was $141 million and $227 million for the nine months to 30 September (excluding the impact of Russia);
- Recognised $546 million of lease revenue and generated $278 million of net cash from operating activities in the quarter;
- Ended the quarter with total available liquidity and contracted sales of approximately $6.8 billion, including $5.7 billion of undrawn debt facilities;
- Ended the quarter with $16 billion of unencumbered assets and net leverage of 2.3x;
- Agreed a landmark transaction with Malaysia Airlines for the financing of 20 A330-900neo aircraft valued at over $2 billion;
- 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; and
- Post quarter end, Avolon announced the appointment of Ross O’Connor as Chief Financial Officer, Felipe Campos as Chief Operating Officer and Jim Morrison as Chief Risk Officer.
11 October, 2022
Third quarter update from leasing firm Avolon....
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