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Email: Vanessa Maydon

Press releases

Avolon
14 June 2011

Avolon expands Middle East and Asian customer base and sees significant long term opportunities within the region

Avolon, the aircraft leasing group, announces the significant growth of its business interests in the Middle East and Asia-Pacific regions, with the leasing of 26 aircraft to nine leading carriers. It has re-affirmed its positive outlook for the industry within the region and its expected business expansion in the near term.

Highlights
− 26 aircraft leased to nine airlines including carriers in Australia, China, India, Japan,
The Philippines and United Arab Emirates.

− 12 Airbus A320 and 14 Boeing 737-800 aircraft leased to Middle East and Asian carriers:

− One Airbus A320 Air Arabia – United Arab Emirates
− Eight Airbus A320s Indigo – India
− Two Airbus A320s Philippine Airlines – The Philippines
− One Airbus A320 Spring Airlines – China

− Five Boeing 737-800s Flydubai – United Arab Emirates
− Four Boeing 737-800s Japan Airlines - Japan
− One Boeing 737-800 Skymark - Japan
− One Boeing 737-800 SpiceJet -India
− Three Boeing 737-800s Virgin Australia - Australia

− Average age of Avolon’s current delivered fleet is 1.8 years
− Avolon fleet currently stands at over 80 committed aircraft, valued at c. US$ 4.0 billion
− US$3.0 billion capital raised including US$1.1 billion of equity and US$1.9 billion of debt

John Higgins, Avolon President and Chief Commercial Officer, commented:

“Both Asia-Pacific and the Middle East are important markets for us and establishing ourselves as a leading lessor in these regions is one of our core business objectives. We have already made solid progress in developing our portfolio in the region and with in excess of 40% of future aircraft orders destined for this region, it remains a key focus for our team. We see significant opportunity to maintain strong growth in our fleet as we move from our existing committed portfolio to a fleet
value of in excess of US$6 billion by 2014.”

“We have established offices in Hong Kong and Shanghai under the leadership of Simon Hanson, Head of Asia-Pacific for Avolon. We expect to open a further office in either the Middle East or the Asia-Pacific region in the next 12 months to build on the success we have had in supporting and partnering with leading carriers in these regions.”

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