In an update on Q1/16 performance, Avolon said that following its acquisition by Bohai Leasing in early January 2016, its total owned, managed and committed fleet at March 31, 2016 was 402 aircraft.

Avolon is the core aircraft leasing brand for Bohai Leasing and its parent, HNA Group. Together with HNA Group and Bohai’s other aircraft leasing interests, Avolon is the world’s fourth largest aircraft leasing business by asset value.

Bohai secured $1.2 billion of additional equity for its aircraft leasing business during 2016 bringing total available liquidity to $3 billion for Avolon to accelerate growth in the year and beyond.

2016 Q1 Highlights

Business Activity

• Delivered seven aircraft to five customers in Q1. Committed fleet now stands at 179 aircraft.
• 16 aircraft sold in Q1 with letters of intent in place for four further aircraft disposals in 2016.
• Total customer base now comprises 67 airlines in 37 countries.
• Awarded Finance Dublin’s ‘Deal of the Year’ for Avolon’s $7.6 billion merger with Bohai Leasing.

Fleet Metrics

• Delivered (owned and managed) fleet of 223 aircraft in Q1/16 increased by 60% on Q1/15.
• Compared to Q1/15, Avolon’s owned, managed and committed fleet increased by 56% to 402 aircraft.
• Owned fleet average age of 3.3 years and an average lease term remaining of 7.1 years at the end of Q1/16.