AVOLON ENDS FIRST QUARTER WITH ~$7BN OF TOTAL LIQUIDITY
Dublin | 7 April 2021: Bohai Leasing´s holding subsidiary Avolon, the international aircraft leasing company, issues an update for the first quarter of 2021 (‘Q1’).
Q1 FLEET METRICS & BUSINESS HIGHLIGHTS
Executed a total of 31 lease transactions in the quarter comprising new aircraft leases,follow-on leases and lease extensions;
Entered into Letters of Intent for the placement of 27 owned aircraft;Sold 2 aircraft during the quarter;Delivered a total of 8 new aircraft to 6 customers and transitioned 3 aircraft to follow-on lessees;
Ended first quarter with total of 146 airline customers operating in 61 countries;Agreed an option to defer 34 single aisle and 3 twin aisle orderbook commitments from the2022/23 period to 2025 and beyond, and;
Owned and managed fleet of 578 aircraft at quarter end, with total orders and commitments for 262 fuel-efficient, new technology aircraft.
Q1 STRATEGIC & FINANCIAL HIGHLIGHTS
Total available liquidity of approximately $7 billion at quarter end;
Closed a private offering of senior unsecured notes, with an aggregate principal amount of $1.5 billion, and historically low coupon rates of 2.125% and 2.75% for 2026 and 2028 maturities respectively, and;
Proactively repaid approximately $740 million of secured debt, $470 million of which continues to be available through revolving facilities.
