‘The Irish Times’ Business Person of the Month: Dómhnal Slattery

Aircraft lessor Avolon, headed by industry veteran, raised €1.1bn

 

Dómhnal Slattery, chief executive of Irish aircraft lessor, Avolon, has been named The Irish Times Business Person of the Month, an award run in association with KPMG.

Dublin-headquartered Avolon recently raised $1.1 billion (€970 million) through the private placement of unsecured bonds which it will use to pay down existing debt and take a key step in winning an investment grade rating.

The move followed Avolon’s announcement that its aircraft leasing operations generated $2.2 billion in cash last year and grew profits by 30 per cent to $717 million.

During 2018, Avolon delivered 33 new aircraft to airline customers around the world including the first Airbus A330 neo. By December 31, the Irish company owned or managed a total of 971 craft, a 7 per cent increase on 12 months earlier.

It also drew investment from global financier, Orix, which took 30 per cent of the Irish company last year.

Mr Slattery has three decades’ experience in the aviation industry. He began his career in marketing roles with Guinness Peat Aviation (GPA) and GE Capital Aviation Services (GECAS).

He subsequently established International Aviation Management Group, which was bought by Royal Bank of Scotland, and became RBS Aviation Capital, which Mr Slattery ran from 2001 to 2004.

Mr Slattery founded Avolon in 2010 and has led it through private equity ownership, to flotation on the New York Stock Exchange and through a take private to become part of China’s HNA Group. Avolon ranks as one of the top five in its industry worldwide.