News
Avolon net profit increases 91% in first quarter 2024
May 3rd 2024
Avolon booked net income of US$107 million for the three months to March 31 and generated US$337 million in cash from operating activities. Read More » In the reported period, the lessor executed 39 new aircraft leases, follow-on leases and lease extensions as well as delivering nine new aircraft and transitioning three aircraft to seven customers. Avolon added it sold nine aircraft in the quarter, signed Letters of Intent for the sale of 17 aircraft and acquired three new clients. It has 145 airline customers in 64 countries, the lessor said. Avolon ended the quarter with an owned and managed fleet of 577 aircraft and orders and commitments for 456 airliners. “The first quarter of 2024 demonstrated the upward financial trajectory of our business, headlined by our increasing profitability. Our large order book provides us with a clear competitive advantage in an undersupplied market,” Avolon CEO, Andy Cronin, said.
