AVOLON continues expansion of its fleet and customer base in 2021

posted on 10th January 2022 by Eddie Saunders
AVOLON continues expansion of its fleet and customer base in 2021

Avolon, the international aircraft leasing company, issues an update for the fourth quarter (‘Q4’) and 2021 full year (‘FY’).

Reviewing 2021, Dómhnal Slattery, CEO Avolon, commented: “As we predicted at the start of the year, 2021 was shaped by the rapid distribution and take-up of vaccines, which resulted in the progressive easing of government travel restrictions and a strong rebound in global air travel.

“The scale of pent up demand for travel, and airlines moving to meet that demand, resulted in our fourth quarter being the most active period for leasing activity in our history.

“It is clear that the aviation industry will continue to face challenges in 2022 given new variants, but that market backdrop creates opportunities for us, and the fundamentals of the sector remain strong.

“As we look ahead, we are optimistic that both our platform and our people will continue to meet the challenges we face and seize the opportunities to thrive in the year ahead.

“2021 saw Avolon make its landmark investment in zero-emissions aircraft. Both our investment in, and our orderbook with, Vertical Aerospace – which successfully listed on the New York Stock Exchange in December – will prove to be a game-changer.

“eVTOLs are the first step towards a revolution in air travel and the strong demand for our VX4 orderbook from the world’s leading airlines shows that our airline partners share this view.

“We look forward to continuing to work with our customers to decarbonise air travel and work towards a net zero carbon economy.”

Q4 FLEET METRICS & BUSINESS HIGHLIGHTS

  • Executed a total of 95 lease transactions in the quarter comprising of new aircraft leases, follow-on leases and lease extensions;
  • Delivered a total of 25 new aircraft to 8 customers and transitioned 6 aircraft to follow-on lessees;
  • Entered into Letters of Intent for the sale and leaseback of 40 aircraft;
  • Sold 12 aircraft; and
  • Fangda Group‘s investment into the HNA group of airlines for an ownership stake of c. 25% recapitalises and strenghtens these airlines which account for 11% of our portfolio.