Dublin-based Avolon’s fleet reached 260 at end of June

Irish aircraft leasing company Avolon increased its fleet by 29 per cent year-on-year to 260 aircraft at the end of June.

The Dublin-based operation, which launched on the New York Stock Exchange last year, delivered 14 new aircraft and sold three aircraft resulting in a 19 per cent increase in its owned and managed in-service fleet to 152 aircraft at the end of June.

The aircraft lessor also agreed sale and leaseback transactions for 14 new aircraft in the second quarter. Nine of these will be delivered in 2016 and five will be delivered in 2017.

Headquartered in Dublin, with offices in the United States, Dubai, Singapore and China, Avolon provides aircraft leasing and lease management services.

Profits at Avolon grew almost 36 per cent to $49.4 million (€44 million) in the first quarter of the year, according to results released in May.

Total debt at the end of March was $4.7 billion, while it also had $920 million of loans available to it that it had yet to draw down.