Avolon first quarter net income nearly doubles to $107 million

Avolon’s net income has increased 91% to $107 million in the first quarter of 2024, up from $56 million in the first quarter of 2023. Its total revenues increased 7.4% to $663.1 million, with lease revenues up 3.7% to $620.7 million. The increase in lease revenues was primarily attributed to an increase to its lease rate factor and cash collections during the quarter. Its total expenses had marginally increased by 1.9% to $565.1 million. Its operating cashflow was up 9% to $606 million. “The first quarter of 2024 demonstrates the upward financial trajectory of our business, headlined by our increasing profitability,”