A PIF company, AviLease has acquired a portfolio of nine aircraft from Avolon, it said on October 9, 2024. It follows the purchase of 13 aircraft from Avolon last year.
The company said the portfolio offers "attractive yields" and will further diversify AviLease's aircraft portfolio, which now comprises of 167 owned aircraft (including purchase commitments) and 23 managed aircraft on lease to 48 airlines globally.
"In the two years since our launch, AviLease has been able to quickly operationalize and ramp-up a profitable leasing platform thanks to our ability to deploy capital across multiple channels," said AviLease CEO Edward O'Byrne.
The transaction follows Avolon's purchase last year of 13 aircraft from Avolon, consisting of seven A320neos, two A330neos, and a 737 MAX 8.
Avolon CEO Andy Cronin commented: "We are pleased to be partnering with AviLease once again following on from our successful transaction in 2023."
According to a stock filing from Avolon's 70% shareholder Bohai Leasing, this transaction consists of two 737 8s, two A320ceo, a 787-9, A330neo, A350, A320neo, and an A321neo. The average age of the portfolio is 8.4 years and an average remaining lease term of 6.6 years.
The listing said the transaction will help optimise the company's aircraft asset structure, improve the quality of its fleet assets, and enhance the company's competitiveness of the global aircraft leasing market.
The market price of the portfolio is around $580 million (based on the exchange rate from 4.066bn Chinese yuan). The actual selling price is determined by negotiation.