Dublin-based Avolon’s fleet reached 137 at end of 2014

Barry O’Halloran

Newly floated Irish aviation leasing specialist, Avolon, had a fleet of 137 aircraft at the end of 2014, according to its full-year update.

The Dublin-based operation launched on the New York Stock Exchange last month at $20 a-share, valuing its total issued capital at $1.6 billion.

The company’s latest statement says that the number of craft it owned, managed and delivered to lessees was up 28 year-on-year at 137 at the end of 2014.

Adding in those that it has committed to deliver brings the total to 235, an increase of 53 on the end of 2013.

During the year it signed lease agreements for 46 craft and took delivery of 41, including five owned by Avolon Capital Partners, a joint venture with US bank, Wells Fargo.

Avolon is committed to delivering 98 craft to airline customers between this year and 2022, including new Boeing 737s and Dreamliners, and Airbus A320s and A330s.

It had signed deals to buy 15 new A330 neos from Airbus, for which it is a launch customer, and to acquire six new 787 Dreamliners from Boeing.

The Irish company’s lenders agreed to provide it with an extra $2.3 billion in debt. It had $1.2 billion in debt available to it at the end of 2014.