Avolon returns to profitability amid strengthening recovery

Avolon has reported net income for the full year 2021 of $47 million – an improvement over the $37 million loss reported for the previous year. The company delivered $2.1 billion of lease revenue and generated $895 million of net cash from operating activities in the year. Avolon’s total available liquidity was $6.3 billion at end of FY2021, including $775 million of unrestricted cash and $5.5 billion of undrawn debt facilities. The lessor’s investment grade rating with Stable outlook was affirmed by S&P, Moody’s and Fitch. During the year, the company upsized its unsecured revolving facility by $1.1 billion to $4.3 billion, extended the maturity date