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Avolon announces net income of US$339 million for fiscal 2023
February 9th 2024
Lessor Avolon booked US$110 million in net income in the final quarter of last year and US$339 million for the full year. Read More » The results are a US$330 million increase over fiscal year 2022, or a 34% increase if the impact of the Russia-Ukraine war in 2022 is excluded. Avolon ordered 100 A321neo, 80 737MAX, and 20 A330neo in the reported 12 months, delivered 43 new airplanes and transitioned 30 aircraft to 22 customers. “Robust demand for aircraft, combined with continued undersupply, provided a tailwind to placing our order book and used aircraft at attractive lease rates that will drive future profitability. Record operating cash flow and a sharp increase in net income are testaments to our success in 2023,” Avolon CEO, Andy Cronin said. The lessor has an owned, managed and committed fleet of 1,035 aircraft, including orders and commitments for 458 commercial airliners.
