Avolon Reports Strong Fleet Activity Supported by Continuing High Demand for Aircraft

- Acquired 45 aircraft and signed agreements for the acquisition of a further 138 aircraft including the acquisition of Castlelake Aviation Limited;

- Sold 55 aircraft in 2024 and ended the year with 64 aircraft agreed for sale;

- Owned and managed fleet of 558 aircraft, with total orders and commitments for 571 aircraft;

- Contracted US$14 billion of new financing, increasing total revolving debt capacity to US$7.2 billion; and,

- Investment grade ratings on positive outlook with Moody’s and Fitch.

DUBLIN--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, issues an update for the fourth quarter (‘Q4’) and 2024 full year (‘FY’).

2024 Full Year Highlights

- Acquired 45 aircraft and transitioned 23 aircraft to 25 customers;

- Placed 30 aircraft from our orderbook, ending the year with our orderbook 100% placed for next 24 months;

- Entered into agreements for the sale and leaseback of 37 aircraft;

- Agreed to acquire a portfolio of 116 aircraft through the acquisition of Castlelake Aviation Limited;

- Sold 55 aircraft in 2024 and ended the year with 64 aircraft agreed for sale;

- Owned, managed and committed fleet of 1,129 aircraft at year end, including the proposed acquisition of Castlelake Aviation Limited;

- Contracted US$14.0 billion of new debt financing, of which 79% was unsecured:

• Issued US$3.7 billion of senior unsecured notes;
• Upsized unsecured revolving credit facility to US$5.8 billion and extended maturity to 2028;
• US$750 million new unsecured credit facility with a syndicate of seven banks predominantly in the Middle East and India; and
• Repriced and extended our US$2.3 billion Term Loan B facility.

- Moody’s upgraded Avolon’s outlook to positive; both Fitch and Moody’s now on positive outlook;

- Announced a partnership with Airbus ZEROe to support the development of hydrogen-powered commercial aircraft; and,

- Agreed a partnership with Air New Zealand to support the commercialization of clean tech aircraft, including the sale and leaseback of a BETA Alia CX300 electric cargo aircraft.

Q4 Fleet Metrics & Financial Highlights

- Acquired 12 aircraft and transitioned 5 aircraft to 10 customers;

- Entered into agreements for the sale and leaseback of 17 aircraft;

- Sold 29 aircraft and entered into letters of intent for the sale of a further 30 aircraft; and

- Closed a public offering of US$1.5 billion in senior unsecured notes due 2028 and 2030 and upsized unsecured revolving credit facility to US$5.8 billion, extending the maturity to 2028.

About Avolon

Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 140 airlines in 59 countries, Avolon has an owned, managed, and committed fleet of 1,129 aircraft, as of 31 December 2024 on a pro forma basis including the proposed acquisition of Castlelake Aviation Limited. www.avolon.aero