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.
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.
This was on the back of a near 33.8% rise in total revenue, which stood at $359.6m by the end of June.
Avolon leases aircraft to a number of large international airlines including Ryanair, US Airways, KLM and Air France.
Part of its business model sees it buy aircraft from the carriers and lease it back to them for use.
During the second quarter China’s Bohai Leasing made an offer to acquire 20% of the company at a price of $26 per share.
Last week it announced that it had since received two rival bids for the entire company – one of which valued it at $2.56bn.
At the time Avolon’s board said it had not accepted or rejected either offer but was carefully evaluating both of them.
