DUBLIN, July 07, 2022--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, issues an update for the second quarter of 2022 (‘Q2’).
Q2 FLEET METRICS & BUSINESS HIGHLIGHTS
- Executed a total of 54 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
- Entered into Letters of Intent for the sale and leaseback of 13 aircraft and the placement of 31 aircraft from Avolon’s orderbook;
- Delivered 1 aircraft and transitioned 9 aircraft to follow-on lessees;
- Sold 2 aircraft during the quarter and entered into binding sale agreements for the sale of 30 owned aircraft;
- Ended the second quarter with total of 146 airline customers operating in 62 countries;
- Owned and managed fleet of 591 aircraft at quarter end, with total orders and commitments for 260 fuel-efficient, new technology aircraft;
- Extended the maturity date of Avolon’s secured recourse revolving credit facility from 2024 to 2027. Post the extension, the total facility size will be $745 million;
- 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; and
- During the quarter, Fitch affirmed Avolon’s credit rating at BBB- with Stable outlook.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York
Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is a global leader in aircraft leasing with an owned, managed and committed fleet, as of 30 June 2022 of 851 aircraft.
Note Regarding Forward-Looking Statements
This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believe," "expects," "may," "will," "could," "should," "shall," "risk," "intends," "estimates," "aims," "plans," "predicts," "continues," "assumes," "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved.
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