Avolon issues trading update for first quarter of 2014

Avolon, the international aircraft leasing group, issued a trading update for the first quarter of 2014. At the end of the quarter, Avolon’s committed fleet reached 202 aircraft, up from 167 aircraft at end of the first quarter 2013, serving 47 customers globally. Committed fleet increased by 20 aircraft in the first quarter, valued at $1.3bn at base value. Avolon sold 12 aircraft in the past 12 months, 21 aircraft cumulatively in the past 24 months. The international aircraft leasing group sourced US$800m of debt commitments in the first quarter of 2014, bringing total debt raised to US$6.1bn.