2013 First Half Trading Update
Fleet reaches 171 aircraft – US$5.8bn capital raised
Dublin, 22 July 2013: Avolon, the international aircraft leasing group, today issues a trading update for the first half of 2013. Avolon has now raised total capital of over US$5.8 billion with a committed fleet of 171 aircraft.
2013 H1 Highlights
- Strong trading performance in first half of 2013; on-track to exceed 2013 full year financial and operating targets.
- Total capital raised now exceeds US$5.8 billion.
- Secured all regulatory approvals and formally launched Avolon Capital Partners (‘ACP’), a US$500m joint-venture with leading US bank, Wells Fargo.
- Extended and re-priced a US$365 million revolving warehouse facility.
- Delivered 9 new aircraft valued at over US$540 million and completed the sale of 6 aircraft to a number of international investors in the first half.
- Expanded customer base to 36 airlines and lending group to 24 leading financial institutions.
Financial Strength & Industry Franchise
- Avolon retains a strong balance sheet with total capital raised now in excess of US$5.8 billion.
- Launched Avolon Capital Partners (ACP) in joint-venture with Wells Fargo to build a US$500m aircraft portfolio. ACP was recently awarded “Equity Deal of the Year” by Airfinance Journal and expects to take delivery of its first aircraft before the end of July 2013.
- Hosted inaugural Investor Forums in both Japan (Tokyo) and China (Beijing and Shanghai) attended by over 200 executives from leading Asian financial institutions.
- Issued the second in a series of industry “White Papers” which addressed the expected market impact of the transition to new generation Airbus 320neo and Boeing 737MAX single aisle aircraft. A global webcast of the findings attracted participation from over 150 professionals representing 80 institutions worldwide and is available at www.avolon.aero
- Issued World Fleet Forecast projecting changes in the global commercial jet fleet for the next 20 years.
- Total fleet of 171 aircraft (167 committed and 4 managed); delivered fleet now stands at 96 aircraft.
- Committed fleet now includes Avolon’s first Boeing 787-8 Dreamliner.
- Delivered 9 new aircraft, valued at over US$540 million, including a new B777-300ER to American Airlines, new B737-800s to American Airlines, China Eastern Airlines, Lion Air and TUI Travel; and, two new A320-200s to Avianca.
- Successfully completed the sale of 6 aircraft on long-term leases to a number of international investors.
Global Customer Base & Team
- Avolon now serves 36 customers in 24 countries globally.
- Continued growth in the business is delivered by the strength of the Avolon team which now comprises 50 professionals across 6 offices.