07 Apr 2021
AVOLON Q1 UPDATE
Avolon ends First Quarter with over ~$7bn of Total Liquidity
Dublin | 7 April 2021: Avolon, the international aircraft leasing company, issues an update for the first quarter of 2021 (‘Q1’).
Q1 FLEET METRICS & BUSINESS HIGHLIGHTS
- Executed a total of 31 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
- Entered into Letters of Intent for the placement of 27 owned aircraft;
- Sold 2 aircraft during the quarter;
- Delivered a total of 8 new aircraft to 6 customers and transitioned 3 aircraft to follow-on lessees;
- Ended first quarter with total of 146 airline customers operating in 61 countries;
- Agreed an option to defer 34 single aisle and 3 twin aisle orderbook commitments from the 2022/23 period to 2025 and beyond, and;
- Owned and managed fleet of 578 aircraft at quarter end, with total orders and commitments for 262 fuel-efficient, new technology aircraft.
Q1 STRATEGIC & FINANCIAL HIGHLIGHTS
- Total available liquidity of approximately $7 billion at quarter end;
- Closed a private offering of senior unsecured notes, with an aggregate principal amount of $1.5 billion, and historically low coupon rates of 2.125% and 2.75% for 2026 and 2028 maturities respectively, and;
- Proactively repaid approximately $740 million of secured debt, $470 million of which continues to be available through revolving facilities.
For Further Information Please Contact
Head of Communications
+353 86 0374163
SVP, Investor Relations
+353 1 231 5800
+353 1 765 0886