Avolon, a Dublin-based global aviation finance company, has announced positive third-quarter results with net income of $120 million, a 24% increase compared to the same period last year, and lease revenue up by 15% to $677 million.
The company generated $536 million in operating cash flow during the quarter, with $9.1 billion of total available liquidity.
Meanwhile, Avolon plans to acquire Castlelake Aviation Limited, adding 118 aircraft to its portfolio. The transaction is expected to close in the first quarter of 2025.
Andy Cronin, Avolon CEO, said the acquisition will allow the company’s growth to continue.
“Our positive earnings momentum will be further strengthened by the Castlelake acquisition, adding a complementary portfolio of assets that will drive our earnings profile. Our aircraft sales activity and operating cash generation support our strong balance sheet and liquidity position, driving further positive credit ratings momentum.”
Avolon works with 141 airlines in 62 countries and has a fleet of 1,137 aircraft (including pending acquisitions).
Photo: Avolon
An Airbus A330Neo in Avolon livery.
