Avolon has delivered 15 new aircraft as well as transitioned 10 aircraft to a total of 16 customers in its second quarter.
In its second quarter update, it said it placed 23 aircraft from its orderbook. In addition, it sold six aircraft and entered into letters of intent for the sale of a further 17 aircraft.
It executed 15 lease transactions, which comprised of new, follow-on and extended leases. By adding four new customers, it brought its total airline customer base to 142.
The company ended the quarter with an owned and managed fleet of 582 aircraft, with total orders and commitments for 447 next generation aircraft.
During the second quarter, Avolon raised $2.5bn of unsecured debt capital, comprised of: $1bn senior secured notes due 2029; $1.05bn unsecured term loans due 2027; and $450 million upsize in secured revolved credit facility.
The company currently has a BBB- rating both from FitchRatings and S&P, Baa3 from Moody's, and BBB+ from KBRA. The credit ratings agencies have all rated its outlook as stable except for Fitch, which has given it a positive outlook.
Avolon places 23 new aircraft in second quarter
