Avolon reports $56 million Q1 2023 profit

Avolon has reported “strong aircraft demand and rising lease rates” in the first quarter of 2023 as revenue reached $599 million. The lessor’s made a $56 million profit after the period saw it generate $310 million from operations and end up “with total available liquidity of $5.5bn”, which included $403 million of unrestricted cash and $5.1bn in undrawn debt facilities. “Avolon benefitted from rising lease rates during the quarter as global passenger traffic continued to grow and the reopening of the Chinese market provided an important catalyst for increased travel in the region,” said chief executive Andy Cronin. The Irish