Avolon in­creases jet fleet

Irish Independent - Business Week - - FRONT PAGE -

AVOLON Aero­space Leas­ing’s fleet has ex­panded to 971 air­craft.

The fig­ures come on the back of what the com­pany de­scribed as a “very ac­tive” 2018.

Dur­ing the 12-month pe­riod, the Dublin­head­quar­tered firm de­liv­ered and tran­si­tioned 61 air­craft to 30 cus­tomers, in­clud­ing the world’s first A330­neo.

In ad­di­tion, it sold 87 air­craft. The group’s re­volv­ing debt fa­cil­ity now stands at $4.2bn (€3.7bn) hav­ing in­creased by $1.5bn (€1.3bn) in 2018.

Avolon is part of the Bo­hai Group, which is in turn ma­jor­ity-owned by Chi­nese con­glom­er­ate HNA.

A 30pc stake in Avolon was last year sold by HNA to Dublin-based lessor Orix Avi­a­tion. Orix paid $2.2bn (€1.9bn) for the stake.

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