AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Avolon: 2019 Full Year Results

February 12, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Feb 12, 2020--

Avolon, the international aircraft leasing company, announces results for the 2019 full year.

2019 | FINANCIAL HIGHLIGHTS

US$ MILLION

 

FY 2019

 

FY 2018

 

CHANGE

Lease Revenue

 

2,615

 

2,569

 

2%

Net Profit

 

718

 

717

 

<1%

Total Available Liquidity

 

5,746

 

5,654

 

2%

Total Assets

 

28,387

 

27,153

 

5%

Secured Debt / Total Assets

 

28%

 

42%

 

 

Net Debt to Equity

 

2.2x

 

2.2x

 

 

2019 | OPERATING HIGHLIGHTS

2019 | STRATEGIC HIGHLIGHTS

Dómhnal Slattery, Avolon CEO, commented:“2019 was another year of strong financial performance for our business, where we achieved a major corporate milestone with our upgrade to investment grade. We built on this achievement by delivering net profit of US$718 million, the highest net income in any year in Avolon’s history.

Looking ahead, the continued spread of the coronavirus creates an uncertain backdrop for our airline customers. However, in previous periods of dislocation air traffic has proven to be resilient. We have multi-cycle experience, a proven management team and a strong investment grade balance sheet. It is in an environment of uncertainty where this experience matters most.”

Avolon will also publish its 2019 Annual Report today at 01.00pm and it can accessed here: https://www.avolon.aero/newsroom-and-thoughts

About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 31 December 2019 of 925 aircraft.

Website: www.avolon.aero
Twitter: @avolon_aero

View source version on businesswire.com:https://www.businesswire.com/news/home/20200211005948/en/

CONTACT: Ross O’Connor

Head of Investor Relations

roconnor@avolon.aero

+353 1 231 5818Emmet Moloney

Head of Communication

emoloney@avolon.aero

+353 1 556 4429Jonathan Neilan

FTI Consulting

avolon@fticonsulting.com

+353 86 231 4135

KEYWORD: IRELAND EUROPE

INDUSTRY KEYWORD: TRANSPORT AIR

SOURCE: Avolon

Copyright Business Wire 2020.

PUB: 02/12/2020 02:00 AM/DISC: 02/12/2020 02:00 AM

http://www.businesswire.com/news/home/20200211005948/en