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Avolon on-track to exceed 2013 full year financial and operating targets

23-Jul-2013 10:11 AM

Avolon issued (22-Jul-2013) a trading update for 1H2013, noting a strong trading performance in the period and it is on-track to exceed 2013 full year financial and operating targets. Avolon has now raised total capital of over USD5.8 billion with a committed fleet of 171 aircraft. 1H2013 highlights:

  • Secured all regulatory approvals and formally launched Avolon Capital Partners (ACP), a USD500 million JV with leading US bank, Wells Fargo;
  • Extended and re-priced a USD365 million revolving warehouse facility;
  • Delivered nine new aircraft valued at over USD540 million and completed the sale of six aircraft to a number of international investors in 1H2013;
    • American Airlines: Boeing 777-300ER and Boeing 737-800;
    • China Eastern Airlines: 737-800;
    • Lion Air: 737-800;
    • TUI Travel: 737-800;
    • Avianca: Two new A320-200s.
  • Expanded customer base to 36 airlines and lending group to 24 leading financial institutions;
  • Successfully completed the sale of 6 aircraft on long-term leases to a number of international investors. [more - original PR]