Avolon launches Sapphire II 2020-1 ABS

Avolon is in the market with Sapphire Aviation Finance II 2020-1 (SAPA II) aviation asset-backed securitisation (ABS).  Proceeds  from the sale of the  initial notes will acquire a pool of 21 midlife aircraft from Avolon Aerospace Leasing Limited (AALL), a wholly  owned  indirect  subsidiary  of  Avolon  Holdings.The pool will continue to be serviced by Avolon via AALL. This is the second aircraft ABS serviced by AALL, following SAPA I’s issuance in 2018 and the third ABS serviced by Avolon.  The  pool of  21  aircraft comprises mostly  of in-demand  narrowbody  aircraft  including current  generation  A320  and B737 family  aircraft, with  a  weighted average  age  of  7.5  years, which  is significantly  younger  than in  SAPA  I  (12.0 years). There  are  also two  young  A320-200neos  (10.4%)  with  a  weighted average  age  of  2.1 years. Three aircraft   totalling 31.7% are widebody   aircraft: two A330-300s, which are  aged less than  five  years