2014 Third Quarter Trading Update
Committed to acquire new technology aircraft valued at US$6.2 billion at current list prices. Owned, managed and committed fleet increased to 227 aircraft.
Avolon, the international aircraft leasing group, today issues a trading update for the third quarter of 2014. Avolon took delivery of 8 owned and 1 managed aircraft and sold 2 aircraft in the period. Avolon also committed to acquire six Boeing 787 Dreamliners and, as a launch customer, 15 Airbus A330neos, ending the period with an owned, managed and committed fleet of 227 aircraft.
Q3 2014 Highlights
- Owned, managed and committed fleet reached 227 aircraft compared to 179 at the end of Q3 2013.
- Average aircraft age of 2.5 years for Avolon's owned fleet; the youngest fleet of the top ten leasing firms in the world
- Took delivery of 8 owned and 1 managed aircraft in Q3; sold 2 aircraft in the period
- Announced a commitment to acquire 15 Aaairbus A330neo and six Boeing 787 Dreamliners at the Farnborough airshow in July.
- Global customer base has increased by 12 airlines year-on-year to 49 airlines at the end of Q3.
- Avolon's warehouse financing facility was increased by US$77.5 million to US$550 million.
Orders for new technology aircraft valued at US$6.2 billion at current list prices
- Avolon's investment strategy is focused on acquiring a portfolio of young, modern, fuel-efficient narrowbody and widebody commercial aircraft. Maintaining an appropriately sized forward order book of new generation aircraft, coupled with sale & leaseback and other financing capabilities, is central to Avolon's full service offering to its customers.
- Avolon announced a commitment to acquire 15 Airbus A330neo aircraft valued at US$4.1 billion at current list prices. Avolon became a launch customer for the newly re-engined A330neo; aircraft scheduled for delivery from 2018 onwards
- Avolon signed a purchase agreement for six Boeing 787-9 Dreamliners and reconfirmed an existing agreement to purchase five Boeing 737 MAX 9 aircraft.
- The agreement to acquire six 787-9s is Avolon's first direct order for Boeing widebody aircraft and is valued at US$1.5 billion at current list prices. In addition, Avolon's reconfirmed agreement to purchase five Boeing 737 MAX 9s is valued at US$550 million at current list prices.
Fleet & Customer Growth
- Avolon ended the third quarter with a total owned, managed and committed fleet of 227 aircraft (122 owned, 12 managed and 93 committed).
- Avolon's customer base increased by 12 airlines on the same period last year. Avolon now serves 49 customers in 27 countries globally.