Avolon’s Credit Rating Outlook Improves to Stable

DUBLIN--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, issues an update for the second quarter of 2021 (‘Q2’).

Q2 FLEET METRICS & BUSINESS HIGHLIGHTS

• Executed a total of 48 lease transactions in the quarter, comprising new aircraft leases, follow-on leases and lease extensions;
• Sold 3 aircraft, and entered into Letters of Intent for the sale of 12 owned aircraft during the quarter;
• Delivered a total of 8 new aircraft to 6 customers and transitioned 5 aircraft to follow-on lessees;
• Ended second quarter with a total of 149 airline customers operating in 62 countries; and
• Owned and managed fleet of 581 aircraft at quarter end, with total orders and commitments for 256 fuel-efficient, new technology aircraft.

Q2 STRATEGIC & FINANCIAL HIGHLIGHTS

• During the quarter, rating agencies Moody’s and Fitch improved Avolon’s credit outlook to Stable;
• Avolon announced the world’s largest zero emissions eVTOL aircraft order, underscoring Avolon’s commitment to combat climate change;
• Avolon, through its affiliate Avolon-e, is a launch customer for Vertical’s VA-X4 with a commitment for up to 500 electric aircraft valued at $2 billion; and
• Avolon will join Microsoft, Rolls-Royce, Honeywell and American Airlines as equity investors in Vertical.

ENDS

About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 June 2021 of 837 aircraft.

Website: www.avolon.aero
Twitter: @avolon_aero

Note Regarding Forward-Looking Statements
This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved.