During the third quarter Avolon’s committed fleet reached 179 aircraft serving 37 customers in 24 countries. Avolon also recently announced the pricing of US$636 million of Fixed Rate Asset Backed Notes by Emerald Aviation Finance, which will use the proceeds to acquire 20 aircraft from Avolon.
Avolon’s total aircraft delivered and under management now exceeds US$6 billion, while the lessor has secured commitments for an incremental US$1.1 billion of debt capital.
Also during this period Avolon Capital Partners was formed, which is the US$500 million joint venture with US bank Wells Fargo, which is now active in the market and has taken delivery of two aircraft. 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.