Avolon’s Net Income Increases 29% to US$591 Million in 2025

Total Revenue of US$3 billion, US$2.1 billion Operating Cashflow and Net Income of US$591 million.

DUBLIN--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, announces results for the full year, 2025.

2025 | FINANCIAL HIGHLIGHTS

Income Statement (US$M)	FY25	FY24	US$ Change	% Change
Lease Revenue	2,751	2,582	+169	+7%
Total Revenue*	3,000	2,798	+202	+7%
Operating Cashflow	2,144	2,008	+136	+7%
Net Income*	591	458	+133	+29%

Balance Sheet (US$M)	December 31, 2025	December 31, 2024	US$ Change	% Change
Total Available Liquidity	10,659	12,342	(1,683)	(14%)
Total Assets	34,418	33,637	+781	+2%
Unsecured Debt / Total Debt	77%	67%	+10 ppts	N/A

• Delivered net income of US$591 million for 2025, up 29% year on year, excluding the positive impact of insurance settlements in 2024
• Generated lease revenue of US$2.8 billion, total revenue of US$3.0 billion and record operating cashflow of US$2.1 billion in 2025
• Total available liquidity of US$10.7 billion at year end, including US$616 million of unrestricted cash, US$7.5 billion in undrawn debt facilities and US$2.5 billion in contracted/LOI aircraft sales
• Declared dividend of US$151 million in respect of H2 2025, bringing the full year dividend for 2025 to US$297 million
• Strong Credit Metrics including; Net Debt to Equity of 2.4 times, Unsecured to Total Debt ratio of 77% and US$23 billion of unencumbered assets
• Credit Rating upgrades in May 2025 at both Moody’s (Baa2) and Fitch (BBB), and Outlook upgraded to Positive with S&P (BBB-)
• Share repurchase authorization of US$600 million, supported by modest leverage, strong operating cashflow and extensive asset sales pipeline, to be executed in Q1-26

*Excluding positive impact of net insurance settlements received in 2024 related to certain aircraft detained in Russia

2025 | BUSINESS HIGHLIGHTS

• Acquired 168 aircraft in 2025, including 106 aircraft as part of the Castlelake Aviation Limited transaction, and 21 aircraft in Q4
• Sold a record 95 aircraft in 2025 with an average age of 10 years, including 26 aircraft in Q4, and a further 72 aircraft were agreed for sale at year end
• Placed 59 new-technology aircraft in 2025, including 10 aircraft in Q4
• Contracted US$6.6 billion of unsecured debt funding across the public and private markets
• Ordered 90 new aircraft with Airbus including 75 A321neo aircraft and 15 A330neo aircraft, with the new aircraft scheduled to be delivered out to 2033
• Ended the year with an owned, managed and committed fleet of 1,132 aircraft, including orders and commitments for 500 aircraft

Andy Cronin, Avolon CEO, commented:

“2025 was a very successful year for Avolon and our strong performance was supported by higher lease rates, robust demand for aircraft, and constructive funding markets. This is reflected in our financial performance with net income of US$591 million and a record US$2.1 billion operating cashflow. Given the ongoing shortage of aircraft, we are in a favorable position to support our customers’ growth prospects with our industry-leading orderbook through to the next decade.”

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 139 airlines in 61 countries, Avolon has an owned, managed, and committed fleet of 1,132 aircraft, as of 31 December 2025. www.avolon.aero