Avolon reported fleet metrics and business highlights from Q1/23. During the quarter, the aircraft leasing company executed 31 lease transactions comprising new aircraft leases, follow-on leases and lease extensions. In addition, the company:

• Delivered nine new aircraft and transitioned nine aircraft to a total of 13 customers
• Sold two aircraft and agreed to letters of intent for the sale of a further 13 aircraft
• Executed an $810 million term financing facility maturing in 2030 with a syndicate of 10 banks
• Added three new customers during the quarter

At the end of the quarter, Avolon had an owned and managed fleet of 578 aircraft, with total orders and commitments for 252 aircraft. The company also had a total of 147 airline customers operating in 65 countries.

During the quarter, Avolon issued its 2023 outlook paper, which outlined key themes for the aviation sector for this year, including the positive outlook for lessors due to strong demand for aircraft and ongoing supply constraints. The company also published its 2022 sustainability report, which was prepared in line with Global Reporting Initiative (GRI) standards. The report showed that Avolon is on track to achieve a target of 75% fuel-efficient, new technology aircraft by 2025, with its current fleet at 55%, up from 50% a year ago. According to the report, Avolon also:

• Received an inaugural ESG rating from Sustainalytics, achieving a ‘low risk’ rating, placing Avolon in the top 5% of its industry group in terms of ESG performance
• Launched a feasibility study into the production of sustainable aviation fuel in Ireland in partnership with Boeing, ORIX Aviation, SFS Ireland and SkyNRG
• Introduced a bespoke new people development program for emerging leaders
• Supported 47 different charitable initiatives through its CSR program, CARE, focused on the themes of youth and education.

“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 widebody aircraft is a dominant theme and is supportive of growing levels of leasing and trading activity,” Andy Cronin, CEO of Avolon, said. “Our ambition is to continue to be a leader in our sector on ESG issues. We made further progress towards our key 2025 target for 75% of our fleet to be new technology, fuel-efficient aircraft. We have also supported research into ways to scale up production levels of sustainable aviation fuel and received an industry leading rating for our ESG performance.”