Aircraft leasing company Avolon today said the reopening of China after it eased strict Covid-19 rules has boosted levels of leasing and trading activity.
The company added three customers in the first quarter for a total of 147 airlines and executed 31 lease transactions, it said in a business update today.
"The year has started with positive momentum as airline passenger growth continues and the impact of reopening in China feeds into increasing travel in the region," CEO Andy Cronin said in the statement.
The Dublin-based lessor said it owned and managed a fleet of 578 aircraft at end of the quarter, with orders and commitments for 252 fuel-efficient, new technology aircraft.
It said it was on track to achieve its target of 75% fuel-efficient, new technology aircraft by 2025, with 55% new technology currently, up from 50% a year earlier.
Andy Cronin also said the lessor's ambition is to continue to be a leader in its sector on ESG issues.
"We made further progress towards our key 2025 target for 75% of our fleet to be new technology fuel-efficient aircraft," he said today.
"We have also supported research into ways to scale up production levels of sustainable aviation fuel and received an industry leading rating for our ESG performance," he added.
