Irish headquartered aircraft lessor Avolon has reported net income of $105m for the second quarter, an increase of 38% compared to the same time last year.
Avolon said its lease revenue for the three month period came to $660m, while it reported total revenue of $701m.
It also generated $448m of cash from operating activities, up 21% year on year.
During the second quarter, Avolon delivered 15 new aircraft and transitioned 10 aircraft to 16 customers, while it also sold six planes and entered into letters of intent for the sale of a further 17 aircraft.
It said it has 23 aircraft placed on its orderbook, while it also added four new customers in the three months from April to June, giving a total of 142 airline customers which operate in 63 countries.
Avolon said it ended the second quarter with a portfolio of 1,029 aircraft comprising an owned and managed fleet of 582 aircraft, with total commitments for 447 fuel-efficient, new technology aircraft.
The company last month announced orders for 310 new engines to power 155 Airbus planes in a deal worth over $5 billion at current list prices - its biggest ever engine commitment.
Avolon ordered 160 GTF engines from Pratt & Whitney and 150 LEAP-1A engines from CFM International. The deal also includes options to purchase a further 160 Pratt & Whitney engines and 150 CFM International engines.
Andy Cronin, Avolon's chief executive, said the second quarter was another strong quarter for the company in which its financial performance continued its positive trajectory, driven by high levels of demand for its assets.
"Our decision to expand our orderbook last year has positioned us with a clear competitive advantage in an undersupplied market," Mr Cronin said.
"We continue to diversify our sources of capital, raising $2.5 billion of new unsecured debt this quarter. This provides us with strong liquidity and prudent balance sheet to take advantage of growth opportunities and sustain long-term profitability," he added.
