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Avolon sees revenue, income grow
05 Aug 2015 12:12
Aircraft leasing company Avolon has seen a significant rise in income during the first six months of the year on the back of growing sale and leaseback deals with a number of international airlines.
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The Dublin-based company had net income of almost $105m in the first half of 2015 – up 74% on the amount earned in the same period of last year.
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This was on the back of a near 33.8% rise in total revenue, which stood at $359.6m by the end of June.
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Avolon leases aircraft to a number of large international airlines including Ryanair, US Airways, KLM and Air France.
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Part of its business model sees it buy aircraft from the carriers and lease it back to them for use.
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During the second quarter China’s Bohai Leasing made an offer to acquire 20% of the company at a price of $26 per share.
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Last week it announced that it had since received two rival bids for the entire company – one of which valued it at $2.56bn.
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At the time Avolon’s board said it had not accepted or rejected either offer but was carefully evaluating both of them.
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