Avolon’s reports strong growth in Q2

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By TESTCustomwebLP TESTCustomwebLP July 12, 2016 10:42

Avolon’s reports strong growth in Q2

During the second quarter of 2016, Avolon’s owned, managed and committed fleet at the end of Q2 was 443 aircraft, including a portfolio of 45 aircraft being acquired from GECAS. The 45 aircraft, which are scheduled to deliver to Avolon in the second half of 2016, are on lease to 29 airlines in 15 countries. It also brings 15 new customers to Avolon.
During the reporting period, Avolon delivered 11 aircraft to seven customers;  sold five aircraft with letters of intent in place for 13 further aircraft disposals in 2016. The lessor also completed integration of Hong Kong Aviation Capital fleet, processes and systems. Avolon has increased its committed debt facilities by approximately US$500 million in the period.
Avolon’s delivered (owned and managed) fleet of 227 aircraft increased by 50% compared to Q2 2015, while its owned, managed and committed fleet increased by 70% compared to Q2 2015 to 443 aircraft. At the end of the quarter, Avolon’s owned fleet average age was 3.4 years with an average lease term remaining of 7.4 years. Its total customer base has increased to 85 airlines in 41 countries.
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By TESTCustomwebLP TESTCustomwebLP July 12, 2016 10:42