Avolon decreased the size of its owned and managed fleet by 2% between 30 June 2017 and the same point in 2018.

While the number of aircraft in the fleet fell by 12, the Dublin-based lessor introduced five new customers, its second-quarter update shows. The average age of the fleet increased from 4.9 years to 5.2 years, while the average lease term fell from 6.8 years to 6.6 years.

During the second quarter of 2018, Avolon sold 28 aircraft into securitisation Sapphire Aviation Finance – which Avolon will continue to manage – and contracted to sell seven aircraft into sidecar Jade Aviation, in which Avolon will invest alongside China's Cinda Asset Management. Like many of its competitors with similar vehicles, Avolon will service its joint venture.

As of 30 June, the company had $3.4 billion available under revolving debt facilities.

Avolon became the third-largest lessor upon the completion of acquiring CIT's aircraft leasing business during the second quarter of 2017.

Source: Cirium Dashboard