Monday, October 07 12:29:44
Dublin-based aircraft leasing group Avolon said today that its third quarter saw its fleet of aircraft rise to 179.
It also announced that Emerald Aviation has priced of US$636 million of Fixed Rate Asset Backed Notes to buy 20 aircraft from Avolon.
In a statement to the markets today, Avolon said that the third quarter of 2013 was Avolon's most active period since the formation of the business.
Total aircraft delivered and under management now exceeds US$6 billion and it has secured commitments for an incremental US$1.1 billion of debt capital.
This comes with a strong trading performance with the sale of 4 aircraft in the period, bringing total aircraft traded year-to-date to 10.
Avolon Capital Partners, the US$500 million joint venture with leading US bank Wells Fargo, is now active in the market and has taken delivery of two aircraft
During the period, Avolon delivered its first Boeing 787 aircraft to LATAM Airlines and the first A319 aircraft to American Airlines.
It also signed new lease agreements with two new customers and extended the lease term on 10 aircraft with 3 current customers - now serving 37 customers in 24 countries.
Avolon's fleet is comprised of the most liquid aircraft in the world with an average age of 2.1 years and an average remaining lease term of 6.9 years.