Leasing company Avolon reported 31 lease transactions during the first quarter of 2023 (Q1 2023).
The deals included the deliveries of nine new aircraft and the transitioning of the same number to 13 customers.
The Dublin-based lessor sold two aircraft and added that it had letters of intent for the sale of 13 more.
During Q1, Avolon closed a 10-bank syndicate of an $810 million term financing facility maturing in 2030.
By the end of the period, the company owned and managed a fleet of 578 aircraft and had orders and commitments for 252 "fuel-efficient, new technology" aircraft. It added three new customers, taking it to 147 in 65 countries.
“The year has started with positive momentum as airline passenger growth continues and the impact of reopening in China feeds into increasing travel in the region. The shortage of both narrow and wide-body aircraft is a dominant theme and is supportive of growing levels of leasing and trading activity," said chief executive Andy Cronin.
The new aircraft are to help put the company on track to reach its target of 75% fuel-efficient, new technology aircraft by 2025, with the percentage at 55 in early 2023.
The commitments were outlined in the company's new 2022 Sustainability Report, which it said was "prepared in line with the Global Reporting Initiative (GRI) standards".
"Our ambition is to continue to be a leader in our sector on ESG [environment, social, governance] issues. We made further progress towards our key 2025 target for 75% of our fleet to be new technology fuel-efficient aircraft," said Cronin.
The company 's efforts were rewarded with a "low risk" inaugural ESG rating from Sustainalytics, putting it in the top 5% of its industry group.
The period to the end of March saw the company join a feasibility study into the production of sustainable aviation fuel in Ireland, along with Boeing, ORIX Aviation, SFS Ireland and SkyNRG, as well as provide support to 47 charities.