Avolon fleet reaches 167 aircraft with USD5.1bn capital raised
International aircraft leasing group Avolon’s fleet reached 167 aircraft as at 31 December 2012 while total capital raised by the group has now exceeded USD5bn.
During 2012, Avolon raised USD300m of new equity from the Government of Singapore Investment Corporation and USD1.3bn of new debt finance bringing total capital raised to in excess of USD5.1bn.
The group also delivered 40 aircraft last year valued at over USD2bn – placing it in the top three lessors globally for new aircraft deliveries in 2012.
Avolon also placed forward orders for 20 Airbus 320neo and 20 Boeing 737MAX aircraft, becoming one of the first global lessors to secure valuable delivery slots in both programmes.
In addition, the group formed Avolon Capital Partners, a joint-venture with Wells Fargo, to build a USD500m aircraft portfolio, and expanded its customer base to 34 airlines and the lending group to 24 financial institutions.
Dómhnal Slattery, Avolon chief executive, says: “2012 marked a year of significant progress for Avolon as we delivered strong performance against every financial and operating measure. Our achievements in respect of portfolio growth, diversification of our funding base and the generation of strong risk-adjusted returns clearly demonstrate the best-in-class operational capability of our platform, the global relationships of our team and the strength of our franchise."
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