Avolon Publishes 2022 Q4&FY Update

- Executed 237 lease transactions during 2022;

- Delivered, transitioned and sold a total of 107 aircraft;

- Agreed a landmark transaction with Malaysia Airlines for the financing of 20 A330-900neo aircraft valued at over $2 billion;

- Raised $2.2 billion of new financing and increased total revolving debt capacity to over $6.0 billion;

- Received inaugural ESG Rating of 16.0 (‘Low Risk’) from Sustainalytics; and

- Partnered with global aviation leaders on a Sustainable Aviation Fuel feasibility study.

Dublin | 10 January 2023:
Avolon, the international aircraft leasing company, issues an update for the fourth quarter (‘Q4’) and 2022 full year (‘FY’).

Andy Cronin, CEO Avolon, commented:
“2022 was a successful year for Avolon as borders reopened around the globe and our customers returned to the skies, capitalising on the pent-up demand for travel. This appetite for travel was reflected in the increased utilisation of our fleet compared to 2021, with demand for both our new and used aircraft support- ing our strong leasing and trading activity. As we enter 2023, the outlook for the business is positive; we have an industry leading platform, an orderbook of new technology aircraft, a global footprint and a robust balance sheet. We are well positioned to continue to support our customers and capitalise on the improving market backdrop.”

Q4 BUSINESS HIGHLIGHTS

  • Executed a total of 75 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
  • Delivered a total of 25 new aircraft to 7 customers and transitioned 8 aircraft to follow-on lessees;
  • Sold 18 aircraft; and
  • Announced a partnership with Boeing, ORIX Aviation, SFS Ireland and SkyNRG, to conduct a feasibility study into the production of Sustainable Aviation Fuel (SAF).

2022 FULL YEAR HIGHLIGHTS

  • Executed a total of 237 lease transactions comprising new aircraft leases, follow-on leases and lease extensions;
  • Delivered a total of 35 new aircraft and transitioned 35 aircraft to a total of 27 customers;
  • Sold 36 aircraft in 2022;
  • Owned and managed fleet of 576 aircraft at year end, with total orders and commitments for 258 fuel-efficient, new technology aircraft;
  • Added 10 new customers during 2022, for a total of 146 airline customers operating in 63 countries;
  • Raised $2.2 billion of new debt, including Avolon’s inaugural JOLCO financing;
  • Upsized unsecured revolving facility to $4.6 billion, bringing total revolving debt capacity to over $6.0 billion at year end;
  • Fully placed our order for 500 Vertical Aerospace eVTOLs and delivered our first A330 to IAI for conversion to dedicated freighter; and
  • Received inaugural ESG Rating from Sustainalytics with a score of 16.0 placing Avolon in the ‘Low Risk’ category and the top 5% of our industry grouping.