Operating lessor Avolon Aerospace ended 2013 with a total of 109 aircraft in service in its portfolio, 18 units more than the previous year.
Last year the Dublin-based lessor added 25 aircraft but also sold 16 units to a diverse pool of investors.
During the 12 month period, Avolon delivered 34 new aircraft to customers valued at over $2 billion, including five Boeing 787s. It also extended leases on 10 aircraft with three operators.
Its joint-venture with US bank Wells Fargo, Avolon Capital Partners, took delivery of its first two aircraft during 2013.
“2013 represented the most active year in Avolon’s history. We delivered a strong performance and exceeded all of our full year operating and financial targets. We ranked in the top five aircraft lessors globally in terms of transaction origination in 2013 - and we continue to maintain the youngest large lessor fleet in the world,” says Avolon’s chief executive Domhnal Slattery.
In 2013, Avolon added seven new customers to its portfolio. It has now aircraft with 41 airlines. Its committed fleet comprises 182 aircraft, 15 more units that the previous year.
Source: Avolon, January 2013
The lessor continued to demonstrate access to a broad range of financing opportunities including access to unsecured debt capital. It raised $1.6 billion of new debt financing in 2013 bringing its total debt raised to $5.3 billion. Avolon expanded its lending group to 29 financial institutions.
During the year Avolon launched its first ever asset-backed securitisation transaction, Emerald Aviation Finance, and raised $636 million.
“Avolon has a strong balance sheet and significant liquidity to capitalise on the current growth of the sector and to deliver continued growth and superior returns for our shareholders in 2014 and beyond,” says Slattery.