Transport

Irish aircraft leasing company Avolon had $7bn in cash at end of first quarter

The Dublin-based company, led by Dómhnall Slattery, completed 31 lease deals during the period

Then Taoiseach Leo Varadkar and Dómhnal Slattery, Avolon chief executive pictured at the official opening of Avolon’s head office in Ballsbridge. Photograph: Robbie Reynolds
Then Taoiseach Leo Varadkar and Dómhnal Slattery, Avolon chief executive pictured at the official opening of Avolon’s head office in Ballsbridge. Photograph: Robbie Reynolds
Wed Apr 07 2021 - 23:20

Irish aircraft lessor Avolon said on Wednesday that it had $7 billion cash available to it at the end of the first three months of this year.

The Dublin-based company, led by chief executive Dómhnall Slattery, completed 31 lease deals during the first quarter, including new leases, follow-ons and extensions.

On March 31st it had an owned and managed fleet of 578 aicraft, with total orders and committments for a further 264.

Total available liquidity at the end of the quarter was about $7 billion, Avolon said.

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During the period it closed a private offering of $1.5 billion in senior unsecured bonds, repayable in 2026 and 2028 at interest rates of 2.125 per cent and 2.75 per cent.

Avolon noted that it had 146 airline customers operating in 61 countries at the end of the first quarter.