Aircraft Lessor Avolon Owns 578 Planes and $7 Billion in Cash


Photo: Airbus

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Irish aircraft lessor Avolon confirmed that it had $7 billion in available liquidity and 578 owned and managed airplanes at the end of the first quarter of 2021.

The lessor has also said that it has executed 31 lease transactions consisting of new aircraft leases, follow-on leases, and lease extensions. They were Airbus A320neos deliveries to SAS, Spirit Airlines, Vistara, and Frontier Airlines. It has also signed Letters of Intent for the placement of 27 aircraft and sold two planes during this quarter. Besides 578 owned aircraft, Avolon has total orders for a further 264.

Dómhnal Slattery, CEO of Avolon Aerospace, said recently: “2020 was an extremely challenging year for the aviation industry globally. We worked closely with our customers to provide support while also prudently managing our own capital position.

“Our actions to strengthen our balance sheet during 2020 saw us end the year with the strongest liquidity position in our history, ensuring we are well placed as the industry transitions into the recovery phase.”

Avolon currently has 146 airline customers across 61 countries.

Source: Avolon