Friday, April 11 11:24:13
Avolon, the international aircraft leasing group headquartered in Ireland, has raised total capital of US$7.5 billion, up from US$2.4bn at end of Q1 2013.
According to a Q1 2014 trading update released today, Avolon sourced US$800m of debt commitments in the quarter, including a secured 8-year US$500m facility to fund new aircraft deliveries this year. These commitments bring the total of Avolon's debt raised to US$6.1bn.
Avolon also reports continued strong momentum during the quarter.
The group has increased its committed fleet to from 167 aircraft last year to 202, and has expanded its customer base to 47 airlines in 27 countries. Avolon's lessor fleet is the youngest in the world, with an average aircraft age of 2.5 years.
Avolon employs 55 people across 6 offices, including Ireland, the U.S., Hong Kong, Shanghai, Singapore and Dubai. Its investors include three of the world's leading private equity firms, Cinven, CVC Capital Partners and Oak Hill Capital Partners, and one of the world's leading sovereign wealth funds, Government of Singapore Investment Corporation.