Avolon reports 2021 third quarter results

Avolon has reported net income for the three months to 30 September of $5.9 million, on lease revenue of $518 million for the quarter, which was essentially flat compared to Q3 2020. Avolon confirmed that it had generated $237m of net cash from operating activities in the quarter. The aircraft lessor had total available liquidity of $6.6bn at end of Q3, including $706m of unrestricted cash and $5.9bn of undrawn debt facilities. During the reporting period, Avolon upsized unsecured revolving facility by $1.1bn to $4.3bn; extended the maturity date from 2024 to 2026; and extended $2.0bn of unsecured note maturities