Avolon reports 83% increase in second quarter adjusted net income

Avolon, the international aircraft leasing company, posted results for the second quarter of 2015 with net income up 133% to US$56m versus the second quarter in 2014, while adjusted net income was up 83% to US$62m versus the previous year. Avolon reported that it sold three aircraft in the second quarter, with a net book value of US$170m at a gain of US$23m or 13.3% premium to net book value. The company signed US$622m of new sale and leaseback commitments in the second quarter and owned and managed a fleet of 152 aircraft at the end of the second quarter. The company delivered 14 new aircraft to 10 airlines based in 10 countries and placed the first aircraft from its Boeing 737 MAX order and signed a letter of intent for three MAX aircraft.