Avolon, an aircraft leasing company, issued updates about the company’s activity and performance during Q3/21.
During the quarter, Avolon:
- Partnered with IAI, an independent freighter conversion company, as the launch customer for the IAI A330-300 P2F cargo conversion program and committed to 30 conversion slots between 2025 and 2028
- Announced that GOL and Grupo Comporte committed to purchase or lease up to 250 zero emissions VA-X4 eVTOL aircraft from Avolon-e
- Upsized its unsecured revolving facility by $1.1 billion to $4.3 billion and extended the maturity date from 2024 to 2026
- Extended $2 billion of unsecured note maturities to 2027 and reduced the weighted average interest rate from 5.31% to 2.53%
- Repriced its $672 million term loan B, reducing interest cost by 50 basis points
- Repaid approximately $650 million of secured debt during the quarter with a weighted average interest cost of 3.93%
- Executed a total of 54 lease transactions, comprising new aircraft leases, follow-on leases and lease extensions
- Sold two aircraft and executed agreements for the sale of 12 aircraft
- Delivered a total of eight new aircraft to six customers and transitioned nine aircraft to follow-on lessees
- Ended the quarter with a total of 150 airline customers operating in 61 countries and an owned and managed fleet of 585 aircraft, with total orders and commitments for 246 aircraft
