Avolon executed a total of 31 lease transactions in Q1/21, including new aircraft leases, follow-on leases and lease extensions. The company also entered into letters of intent for the placement of 27 owned aircraft, sold two aircraft, delivered eight new aircraft to six customers and transitioned three aircraft to follow-on lessees.

Avolon ended the quarter with total of 146 airline customers operating in 61 countries. The company also agreed to an option to defer 34 single aisle and three twin aisle orderbook commitments from the 2022/23 period to 2025 and beyond.

Avolon had an owned and managed fleet of 578 aircraft at quarter end, with total orders and commitments for 264 aircraft.

In terms of financial highlights, Avolon had total available liquidity of approximately $7 billion at quarter end. In addition, during the quarter, the company closed a private offering of senior unsecured notes with an aggregate principal amount of $1.5 billion and coupon rates of 2.125% and 2.75% for 2026 and 2028 maturities, respectively. Avolon also proactively repaid approximately $740 million of secured debt, $470 million of which continues to be available through revolving facilities.

Avolon is an aircraft leasing company.