Aircraft leasing company Avolon experienced strong growth during the second quarter – increasing its owned, managed and committed fleet to 443 aircraft by the end of June.
This figure represents a 70% increase on the same period in 2015.
The growth was largely driven by the acquisition of a portfolio comprising 45 aircraft from another leasing company, GE Capital Aviation Services.
Portfolio acquisitions represent one of Avolon’s three growth channels, which also include sale-leaseback transactions with airlines as well as direct orders from manufacturers.
The 45 aircraft, which are scheduled to deliver to Avolon in the second half of 2016, are on lease to 29 airlines in 15 countries.
The portfolio is consistent with Avolon’s current portfolio of young, modern and fuel-efficient aircraft.
It also brings 15 new customers to Avolon.
Also during Q2, Avolon delivered 11 aircraft to seven customers, while it sold five aircraft during the period.
Avolon was founded in Ireland by leasing entrepreneurs Dómhnal Slattery and John Higgins in 2010.
