Dublin-based jet lessor Avolon is seeing “strong demand” for its aircraft as lease rates continue to rise, according to the company’s chief executive Andy Cronin. In an update published today, Avolon reported that its lease revenue in the third quarter was $588m, which was up from $546m in the third quarter of 2021. During the third quarter, it sold 14 owned aircraft and entered into letters of intent for the sale of sixteen more. "The third quarter showed the continuing positive trajectory of our financial performance, helped by strong demand for aircraft and rising lease rates,” he said. "These transactions, along with lease extensions and aircraft placed from our orderbook at attractive lease rates, will drive our long-term profitability.”

Source: Irish Independent November 02, 2023 10:45 UTC