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.