Avolon profits grew by 16% to $176 million, during the first quarter of 2019. Revenue from Irish-based firm's leasing operation fell by 4% to $616 million, but this was offset by the gain the company made on the disposal of 20 aircraft.
Dómhnal Slattery, Avolon CEO, commented: “The first quarter represents another strong quarter of performance for Avolon, highlighted by the delivery of $176 million profit for the quarter. The strong financial performance is underpinned by another active quarter for aircraft trading – a testament to the continued hard work, focus and commitment of the Avolon team."
Avolon had a fleet of 553 aircraft at the end of the quarter, serving 150 airlines across 61 countries.
During the quarter, Avolon said it completed eight lease transactions comprising new aircraft leases, follow-on leases and lease extensions.