Avolon’s revenue reaches US$2.4bn in 2017

Avolon, the international aircraft leasing company, has released results for the 2017 full year. The year was headlined by the acquisition and integration of CIT’s aircraft leasing business. Avolon’s owned, managed and committed fleet grew 109% in 2017 to 908 aircraft by year-end and full year profit after tax increased 59% to US$550m.
Avolon reported 107 aircraft deliveries, transitions and sales, including the delivery of 45 new aircraft. The company sold 44 aircraft, including 29 owned aircraft and 15 managed aircraft, across the combined platform in 2017.
Owned, managed and committed fleet increased by 109% year-on-year to 908 aircraft at the end of 2017. The average age of its owned fleet was 5.3 years, and the average remaining lease term of its delivered fleet was 6.6 years. Fleet utilisation for the year was 99.4%.