Avolon fleet reaches 167 aircraft

Avolon, the international aircraft leasing group, issues a trading update for 2012 announcing that its fleet had reached 167 aircraft at 31st December, 2012 and that total capital raised has exceeded US$5bn. Avolon raised US$300m of new equity from the Government of Singapore Investment Corporation and US$1.3bn of new debt finance bringing total capital raised to in excess of US$5.1bn. The Group delivered 40 aircraft valued at over US$2bn and placed forward orders for 20 Airbus 320neo and 20 Boeing 737MAX aircraft. The Group formed Avolon Capital Partners, a joint-venture with Wells Fargo, to build a US$500m aircraft portfolio and expanded the customer base to 34 airlines and the lending group to 24 financial institutions.