News
Avolon posts US$47 million annual profit and identifies "clear evidence of recovery"
February 10th 2022
Industry lessor, Avolon, has reported a net profit of US$47 million for the 12 months to December 31, 2021, a US$84 million turnaround from a net loss of US$37 million in the previous year. Read More » Lease revenue declined 5.9%, to US$2.1 billion, Avolon said in its financial report. Avolon CEO, Dómhnal Slattery, said the company had entered 2022 with a stronger business, significant liquidity and was positioned to take advantage of opportunities as they arise. "While 2021 was another challenging year for the aviation industry, we saw clear evidence of recovery in our own business and among our airline customers as the year progressed," Slattery said. "While challenges remain in the short-term and recovery will be uneven across markets, we have passed an inflection point. We are in the re-build phase for our industry."
