Posted on: 26 September 2011 by Ross McSweeny
International aircraft leasing group, Avolon, has leased nine aircraft to Ryanair and AirAsia.
Avolon also announced that it has increased its committed debt facilities by $600 million to $2.6 billion.
The nine aircraft leased to Ryanair and AirAsia are five Boeing 737-800s to the former and four Airbus A320s to the latter. Seven of the aircraft are being delivered imminently with two delivering in early 2012.
Avolon’s committed fleet now stands at 88 aircraft with 25 customers in 18 countries; with a total fleet value in excess of $4 billion
“We are delighted to announce Ryanair and AirAsia, two of the world’s leading carriers, as Avolon customers,” commented Avolon chief commercial officer, John Higgins. “The Avolon team has a long history of doing business with both airlines having completed our first transaction with Ryanair in 1996 and with AirAsia on its launch in 2001. We have huge respect for the management teams at these carriers and the robust business models they have created.”
“From a wider portfolio perspective, [this] announcement demonstrates our ability to continue to provide innovative and competitive financing to the world’s best airlines. It also highlights our focus on investing in only the highest quality assets, thereby maximising risk-adjusted returns.”
“The additional debt facilities are also significant not only by virtue of the scale of the commitments secured, but also because it reflects the increasing ability of the business to access a broader range of debt structures and products.”