Avolon records positive second quarter results

Lessor Avolon has reported a strong second financial quarter, generating a net income of $105 million and an operating cash flow of $448 million. Avolon’s net income for the period is an increase of 38% when compared to the same quarter last year, jumping from $78 million to $105 million. Similarly operating cash flow totalling $448 million is a 21% increase when compared to second quarter results from 2023. Total lease revenue also saw an increase, when compared to the same period last year, totalling $660 million which is an increase of 8% from $613 million. “This was another strong quarter for Avolon in which our financial performance continued its positive trajectory, driven by high levels of demand for our assets,” said Andy Cronin, Avolon CEO. Cronin continued: “Our decision to expand our orderbook last year has positioned us with a clear competitive advantage in an undersupplied market. We continue to diversify our sources of capital, raising US$2.5 billion of new unsecured debt this quarter. This provides us with strong liquidity and prudent balance sheet to take advantage of growth opportunities and sustain long-term profitability.” Along with increases in net income, total lease revenue and operating cash flow, the company also raised $2.8 billion of debt across both public and private markets. Total available liquidity at the end of the quarter totalled $8.17 billion.