Avolon, a global aviation finance company, has issued an update for the second quarter (Q2) of 2024.
During the second quarter, Avolon delivered 15 new aircraft and transitioned ten aircraft to a total of 16 customers. The company sold six aircraft and entered into letters of intent for the sale of a further 17 aircraft. Avolon placed 23 aircraft from its order book and executed 15 lease transactions, including new aircraft leases, follow-on leases and lease extensions. Additionally, the company added four new customers, bringing the total to 142 airline customers operating in 63 countries. By the end of the quarter, Avolon had an owned and managed fleet of 582 aircraft, with total orders and commitments for 447 fuel-efficient, new technology aircraft.
On the financing front, Avolon raised US$2.5 billion of unsecured debt capital. This included US$1.0 billion in senior unsecured notes due in 2029, US$1.05 billion in unsecured term loans due in 2027, and a US$450 million upsize in its unsecured revolved credit facility.
