Avolon: Aircraft leasing firm reports higher profits and revenues
Dublin-based aircraft leasing firm Avolon has reported its first set of results as a stockmarket-listed company, with adjusted net income jumping 43pc to $179m last year, and revenue for 2014 rising 35pc to $606m.
The company, which is headed by co-founder Domhnal Slattery, floated on the New York Stock Exchange in December. It has a market capitalisation of $1.6bn. Avolon president and chief commercial officer John Higgins also helped to establish the business.
Avolon said this morning that all its planned aircraft deliveries for 2015 have already been placed with clients.
Mr Slattery said that the company had delivered a strong performance for 2014 and that the firm will be able to deliver “superior growth with lower risk”.
At the end of 2014, Avolon had 126 owned aircraft, 11 managed aircraft and 98 aircraft on order.
The company has about 50 airline clients in 28 countries. Its customers include Etihad, Jet Airways, LAN, China Airlines and American Airlines.
Its December flotation was the biggest ever on the NYSE by a company founded in Ireland.
Avolon has been backed to the tune of $7.2bn by private equity giants and banks, including Oak Hill Capital Parters, Cinven and CVC.