Avolon, a company that finances aircraft, recently reported on its third-quarter fleet activities. The period was marked by the sale of 11 aircraft, leaving a total of 59 agreed upon for sale. During this quarter, Avolon also delivered nine new aircraft, transferred five of them to 11 different customers, and penned letters of intent for selling and leasing back nine airplanes.
By the end of the quarter, Avolon reported possessing and managing a fleet of 577 aircraft, including orders and commitments for 442 new, fuel-efficient technology aircraft. This figures into a strategic agreement struck with Castlelake Aviation to add their $5 billion (€4.5 billion) aircraft portfolio to the Avolon stable—a move calculated to solidify Avolon’s industry standing.
Founded in 2021 by the global alternative investment manager, Castlelake, to finance cutting-edge, fuel-efficient aircraft, Castlelake Aviation’s portfolio features 105 aircraft, two engines, and 13 additional aircraft commitments. Avolon asserted that roughly 70% of these aircraft are equipped with new technology.
Throughout the year’s first nine months, Avolon has agreed to purchasing 134 aircraft and has sold 85.