Avolon has published a full year trading update for 2013 announcing that its fleet reached 182 aircraft and that total capital raised has exceeded US$6.7 billion. Highlights of the past financial year include the fact that the lessor has raised additional debt financing of US$1.6 billion bringing total capital raised to in excess of US$6.7 billion, while also successfully closing and funding Emerald Aviation Finance US$636 million Asset Backed Securitisation. The launch of Avolon Capital Partners, a US$500m joint-venture with leading US bank, Wells Fargo, which is active in the market was a particular achievement says Avolon, which delivered 34 aircraft valued at US$2 billion bringing total delivered fleet, net of 20 aircraft sales, to 109 aircraft and total committed fleet to 182 aircraft. “2013 represented the most active year in Avolon’s history,” stated Dómhnal Slattery, Avolon CEO. “We delivered a strong performance and exceeded all of our full year operating and financial targets. Avolon grew its committed fleet to 182 aircraft – net of the sale of 20 aircraft - and increased our customer base to 41 airlines. We ranked in the top 5 aircraft lessors globally in terms of transaction origination in 2013 - and we continue to maintain the youngest large lessor fleet in the world.
We have also increased our committed capital base to almost US$7 billion supported by four strong shareholders and a lending group of 29 financial institutions. We are particularly pleased with the success of our Emerald Aviation Finance US$636 million asset-backed securitisation which closed in October, 2013.
We remain confident about the prospects for our business and the industry as a whole. IATA’s recent outlook points to continued growth and improving profitability for the airline industry in 2014 and beyond and aircraft manufacturer orderbooks are largely sold out until the end of decade. We have seen both of these factors feed into strong demand for our forward orders on 737’s and A320’s both for the current technology and re-engined versions.
Avolon has a strong balance sheet and significant liquidity to capitalise on the current growth of the sector and to deliver continued growth and superior returns for our shareholders in 2014 and beyond.”