Avolon releases Q3 2019 results

Darren Wood
By Darren Wood October 31, 2019 11:28

Avolon releases Q3 2019 results

Avolon has said that its total revenue for the third quarter of 2019 stood at $654 million, marking a profit of $161 million. The company has upsized its unsecured revolving credit facility by $225 million, bringing the total facility size to over $3 billion, an increase of $1.24 billion. Therefore, Avolon extended the availability period of its unsecured revolving credit facility by 21 months to April 2024 and reduced the facility margin by 50 basis points to 1.25%. Third-quarter 2019 highlights also include Avolon owning and managing a fleet of 527 aircraft, with total orders and commitments for 387 new technology aircraft. The company executed a total of 21 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions. Delivered a total of eight new aircraft to five customers and transitioned four aircraft to follow-on lessees; as well as selling 10 aircraft during the quarter, three of which were managed assets, and also disposed of one additional managed aircraft attributable to an insured total loss. Dómhnal Slattery, Avolon CEO, commented: “We have delivered a strong performance this quarter with a 17% increase in net income to $161 million. This result is a testament to the hard work of every member of the Avolon team operating from our seven offices globally.”
Darren Wood
By Darren Wood October 31, 2019 11:28