Avolon fleet exceeds 100 aircraft in Q1 2012

Victoria
By Victoria April 24, 2012 14:34

Avolon fleet exceeds 100 aircraft in Q1 2012

In its first quarter 2012 update, aircraft lessor Avolon has announced that its fleet now exceeds 100 aircraft and that total capital raised has reached US$4.6 billion.

Avolon’s committed capital now stands at US$4.6 billion (US$1.4 bn equity and US$3.2 bn debt). Avolon’s aircraft portfolio has increased to 103 aircraft and the lessor secured $300 million equity commitment from GIC, one of the world’s leading sovereign wealth funds.

Avolon also secured its first commitment from the Export- Import Bank of the United States to guarantee the financing of four aircraft delivering in 2012. Avolon secured its second commitment from the European Export Credit Agencies to guarantee the financing of seven aircraft delivering in 2012.

Avolon Chief Executive Officer, Dómhnal Slattery, commented:

“We continue to deliver on the strategic milestones we established at the launch of Avolon. During the first quarter of 2012, our portfolio grew to over 100 aircraft and we have now raised a total US$4.6 billion in capital. We continue to diversify our funding sources, grow our customer base and strengthen our team.”

“Although global macro-economic conditions and credit markets remain uncertain, there is significant market opportunity, for nimble, well-capitalised leasing businesses with global reach. We look forward to extending our franchise in 2012, continuing to grow our customer base and remain on track to reach our target fleet size of 150 aircraft by 2014.”

Victoria
By Victoria April 24, 2012 14:34
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