DUBLIN--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, issues an update for the third quarter of 2022 (‘Q3’).
Q3 FLEET METRICS & BUSINESS HIGHLIGHTS
- Executed a total of 54 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
- Agreed a landmark transaction with Malaysia Airlines for the financing of 20 A330-900neo aircraft valued at over $2 billion;
- Sold 13 aircraft during the quarter;
- Entered into Letters of Intent for the sale of 7 owned aircraft;
- Delivered a total of 4 aircraft to 3 customers and transitioned 7 aircraft to follow-on lessees;
- Ended the first quarter with total of 149 airline customers operating in 63 countries;
- Owned and managed fleet of 568 aircraft at quarter end, with total orders and commitments for 265 fuel-efficient, new technology aircraft;
- 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;
- Post quarter end, Avolon announced that it had further strengthened its Leadership team with appointments to the roles of Chief Financial Officer (CFO), Chief Operating Officer (COO) and Chief Risk Officer (CRO),
- Ross O’Connor, Avolon’s Head of Capital Markets, has been appointed as CFO;
- Felipe Campos, Avolon’s Chief Technical Officer, has been appointed as COO; and
- Jim Morrison, Avolon’s Head of Portfolio Management, has been appointed as CRO.
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 September 2022 of 833 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.
SVP, Investor Relations
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