October 16, 2012
Avolon fleet exceeds 160 aircraft
Avolon, the international aircraft leasing group, issued a trading update announcing that its fleet now exceeds 160 aircraft and that total capital raised has reached $5bn. The highlights from April to September 2012:
Avonlon delivered 24 aircraft, valued at over $1.1bn to twelve customers across the globe including seven new customers. The company announced an order for 15 Airbus A320 neo and 20 Boeing 737 MAX aircraft. Furthermore Avonlon delivered the first four of its direct order Boeing 737-800 NG aircraft and announced a further order for 10 737-800 NGs to support its near-term growth plans. The company successfully completed the sale of two aircraft on long-term leases to two new investor clients. The total committed fleet has increased to 164 aircraft (160 owned and 4 managed). Avolon secured financing commitments from three new lending banks and now has a global lending group of 22 institutions. Committed capital now stands at $5.0bn ($1.4bn equity and $3.6bn debt).