Avolon carried out about 54 lease transactions in the third quarter of 2022 including new lease agreements, follow-on leases, and lease extensions. The lessor also signed a landmark deal for the financing of 20 A330-900 neo worth $2bn with Malaysia Airlines.
Avolon released the latest financial transactions for the third quarter in which the lessor sold 13 aircraft, signed Letters of Intent for the sale of seven owned aircraft, delivered a total of four aircraft to three customers, and transitioned seven aircraft to follow-on lessees.
As per the report, Avolon has an owned and managed fleet of 568 aircraft with total orders and commitments for 265 fuel-efficient, new technology aircraft, rounding off the total to 833 aircraft.
The lessor also upsized its unsecured revolving credit facility by $200 million bringing the total facility size to $4.6 billion. Avolon also executed a $700 million term financing facility maturing in 2029.
Going ahead, Avolon announced some major leadership reshuffle. Ross O’Connor, Avolon’s Head of Capital Markets, was promoted to the role of Chief Financial Officer (CFO), Felipe Campos, Avolon’s Chief Technical Officer was promoted to Chief Operating Officer (COO) while Jim Morrison, Avolon’s Head of Portfolio Management, has been appointed as (Chief Risk Officer) CRO.
The lessor had ended the first quarter with a total of 149 airline customers in 63 countries.