Avolon boosts fleet with order of six Boeing Dreamliners

Irish aircraft leasing company Avolon ended the third quarter with a total owned, managed and committed fleet of 227 aircraft, up from 179 last year.

The Dublin-based company, which is backed by private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners, recently signed a purchase agreement for six Boeing 787-9 Dreamliners.

It also announced a commitment to acquire 15 Airbus A330neo aircraft valued at US$4.1 billion at current list prices.

“Avolon’s investment strategy is focused on acquiring a portfolio of young, modern, fuel-efficient narrowbody and widebody commercial aircraft,” it said.

“Maintaining an appropriately sized forward order book of new generation aircraft, coupled with sale and leaseback and other financing capabilities, is central to Avolon’s full service offering to its customers.”

Avolon’s warehouse financing facility was increased by $77.5 million to $550 million.

The company confirmed it had orders for new technology aircraft valued at $6.2 billion at current list prices