DUBLIN–(BUSINESS WIRE)–Avolon, the international aircraft leasing company, issues an update for the third quarter of 2021 (‘Q3’).


– Partnered with IAI, the world’s leading independent freighter conversion company as launch customer for the IAI A330-300 P2F cargo conversion programme. Avolon has 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 unsecured revolving facility by $1.1bn to $4.3bn, and extended the maturity date from 2024 to 2026;

– Extended $2bn of unsecured note maturities to 2027 and reduced the weighted average interest rate from 5.31% to 2.53%;

– Repriced $672m Term Loan B, reducing interest cost by 50bps; and

– Repaid approximately $650m of secured debt during the quarter with a weighted average interest cost of 3.93%.


– Executed a total of 54 lease transactions in the quarter, comprising new aircraft leases, follow-on leases and lease extensions;

– Sold 2 aircraft, and executed agreements for the sale of 12 aircraft during the quarter;

– Delivered a total of 8 new aircraft to 6 customers and transitioned 9 aircraft to follow-on lessees;

– Ended third quarter with a total of 150 airline customers operating in 61 countries; and

– Owned and managed fleet of 585 aircraft at quarter end, with total orders and commitments for 246 fuel-efficient, new technology aircraft.


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 September 2021 of 831 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.


Ross O’Connor

Head of Capital Markets

T: +353 1 231 5818

Emmet Moloney

Head of Communication

T: +353 1 556 4429

Jonathan Neilan

FTI Consulting

M: +353 86 231 4135