07 Apr 2022
Q1 BUSINESS UPDATE
Dublin | 7 April 2022: Avolon, the international aircraft leasing company, issues an update for the first quarter of 2022 (‘Q1’).
Q1 FLEET METRICS & BUSINESS HIGHLIGHTS
Executed a total of 54 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
Sold 3 aircraft during the quarter;
Entered into Letters of Intent for the sale of 35 owned aircraft;
Delivered a total of 6 aircraft to 4 customers and transitioned 11 aircraft to follow-on lessees;
Ended the first quarter with total of 142 airline customers operating in 61 countries;
Owned and managed fleet of 592 aircraft at quarter end, with total orders and commitments for 240 fuel-efficient, new technology aircraft;
Prior to 27th February, Avolon had 14 owned narrowbody aircraft and 2 managed narrowbody aircraft on lease to Russian lessees. The leasing of these aircraft to those Russian lessees has been terminated in line with EU sanction requirements;
As at 31st March, 10 of Avolon’s owned aircraft were located in Russia representing less than 1% of Avolon’s portfolio value net of security deposits and maintenance reserves; and
During Q1, Avolon completed the placement of its entire 500 VX4 eVTOL orderbook, adding three new customers:
AirAsia, one of the world’s leading airline groups, signed a memorandum of understanding to lease a minimum of 100 VX4 eVTOLs
Gözen Holding, one of Turkey’s leading aviation conglomerates and owner of Freebird Airlines, committed to purchase or lease up to 50 VX4 eVTOL aircraft, with the option for an additional 50 aircraft
Air Greenland, the flag-carrier for Greenland, committed to purchase or lease a fleet of VX4 eVTOL aircraft and bring zero-emissions travel to the region helping to tackle the issue of climate change.