THERE WERE whooping and hollering noises in the background when I spoke by phone to Avolon’s finance chief John Higgins yesterday – but they were to do with its Christmas party rather than any celebration from having placed an order with Airbus for eight A320 aircraft worth $600 million.
“We’re a busy shop at the moment,” Higgins said of the Dómhnal Slattery-led aircraft- leasing business, which launched in May.
The aircraft will be delivered in 2014 and will take its portfolio to 60. Slattery wants to have 150 aircraft on his books by 2014-15.
“We’ll lease them out over time,” Higgins said, adding that their delivery should coincide with an upturn in aviation activity.
What will 2011 hold in store? “We plan to broaden our financing options,” he said.
“The pipeline of new business also remains strong and next year we’ll be building on the platform we’ve already established.”
This will include placing more of the 12 Boeing aircraft of which it is due to take delivery in 2012.
Staff numbers in Dublin are also set to increase, from 24 to about 30. Five new recruits have just joined the Avolon crew.
Victoria Goodenough joins from Lloyds Banking Group to become head of debt financing, new director Marie Ryan moves from Amentum Capital and business analyst John Wragg joins from DVB Bank.
Aidan Bodkin has joined as financial controller from telco Magnet, while equity analyst Dan Cavanagh moves from Goodbody Stockbrokers.