Avolon's quarterly lease revenues up 10% to new high
Dublin-based Avolon, the world's second-biggest aircraft leasing company behind AerCap, has reported higher net income and lease revenues for the first quarter of 2025.
Avolon said its net income jumped by 36% to $145m, while its lease revenue rose by 10% to $683m - the highest quarterly performance in the company's history.
The company said it acquired 115 aircraft in the three month period, including closing the acquisition of Castlelake Aviation Limited, which increased its delivered fleet to 639 owned and managed aircraft.
Avolon said it sold 34 aircraft and ended the quarter with 66 aircraft agreed for sale.
It ended the first quarter with an owned, managed and committed fleet of 1,096 aircraft, including orders and commitments for 457 new technology aircraft, it added.
The company also posted strong operating cashflow of $365m in the first quarter, up 8% year on year.
Meanwhile, Avolon also today announced the completion of a new $1.1 billion senior unsecured facility. The facility is split equally between a drawn loan and a revolving credit facility.
17 banks participated in the facility, including seven new lenders to Avolon.
The mandated lead arrangers on the facility were DBS Bank, CaixaBank, Commonwealth Bank Group, Truist Financial, Cathay United, AIB and Sumitomo Mitsui Trust Bank.
Andy Cronin, Avolon CEO, said the company delivered a strong performance in the first quarter of 2025 against all key financial and operating metrics.
"Our record lease revenue performance and growing profitability reflect the sustained demand for our assets," the CEO said.
"We believe that the industry's supply dynamics will continue to be favourable. Our industry leading orderbook, deep customer relationships, and balance sheet strength position us to benefit from this sustained demand and drive our performance for future quarters," he added.
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