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☆ Avolon CEO sees robust demand for aircraft, especially in Asia
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAvolon CEO sees robust demand for aircraft, especially in AsiaAndy Cronin, CEO of Avalon, talks about demand for aircraft leasing and uncertainties caused by the COVID pandemic, and supply restrictions in Boeing and Airbus. He says the Asia Pacific region is leading in growth, with India being particularly attractive.

Persons: Asia Andy Cronin Organizations: Avalon, Boeing, Airbus Locations: Asia, India

☆ 'People just want their jets.' Paris Air show returns as Boeing, Airbus race to increase production
▼ + stars: | 2023-06-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An employee works at the Airbus A350 assembly site, in Colomiers near Toulouse, south-western France, on December 9, 2022. A lot has changed in the four years since one of the aviation industry's biggest air shows was held in person. The question is whether Boeing , Airbus and their numerous suppliers can catch up. Over the past year, Boeing has logged large orders or preliminary agreements from customers including United Airlines , Saudia and new Saudi carrier Riyadh Air. Air India's massive order earlier this year included both Boeing and Airbus jets.

Persons: —, Andy Cronin, Stuart Hatcher, Hatcher Organizations: Airbus, Paris Air, Boeing, Aviation, United Airlines, Riyadh Air, Air, Turkish Airlines, Air Lines, Malaysia Airlines, Air France, KLM, Air Baltic Locations: Colomiers, Toulouse, France, Saudi, Riyadh

☆ Avolon agrees $4 bln deal with Boeing for 40 737 MAX jets
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, April 27 (Reuters) - Global leasing giant Avolon said on Thursday it had agreed terms for a commitment to order 40 Boeing (BA.N) 737 MAX aircraft in a deal worth over $4 billion at current list prices. Avolon, the world's third largest aircraft leasing firm, said the new jets are scheduled for delivery from 2027 to 2030 and will increase the overall size of its owned, managed and committed fleet to 870 aircraft. "Our commitment with Boeing reflects our confidence in the long-term outlook for the aviation sector. It will also support our airline customers who are looking to plan beyond the robust post-COVID traffic recovery and prepare for future growth, while also reducing their carbon emissions," CEO Andy Cronin said. Reporting by Padraic Halpin Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

For airlines, sale-and-leasebacks have been a popular way to generate liquidity and ease balance sheets. They then aim to sell them at a profit to lessors at the expense of agreeing to pay a rent. "It's a cheap and often tax-efficient way for the airline to raise finance," said an aircraft finance source. "Lessors are already queuing up to do business with Air India. Some lessors say it is not worth it after new money poured into aviation looking for returns when interest rates were low.

The lessors took a hit of almost $10 billion when Russia barred airlines from returning planes hit by Western sanctions to their owners in the West. This has turned the spotlight on other risky markets, most prominently China and Taiwan, where some fear future conflict could cause a similar seizure on a much larger scale. When discussing the Russia losses, most executives speaking at the conference, also touched on China risks. Several executives said the loss of aircraft to Russia would simply feed into risk management models and encourage lessors to be careful about spreading their exposure rather than withdrawing from markets altogether. "Lessors aren't going to be able to abandon higher risk areas because that is what they do," he added.

"Our industry is still climbing out of - call it a 100-year event, call it a macro shock of epic proportions. "We are bullish and these are the reasons why I suspect there's a disconnect between the Davos in Switzerland and the Davos in Dublin," Cronin told Reuters. "It's a good time to be a lessor," said Tony Diaz, chairman of the smaller Zephyrus Aviation Capital. It's probably easy to take that second one too," Robert Korn, president and co-founder of fast growing Carlyle Aviation Partners, added. Additional reporting by Tim Hepher and Joanna Plucinska Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

DUBLIN, Jan 18 (Reuters) - A battle for compensation is brewing over delays in the delivery of commercial jets, with a Dublin aviation summit descending into a blame game over the worst industrial disruption in years. Aircraft contracts contain dense descriptions of adverse factors which excuse manufacturers for multiple types of delay, meaning they can avoid paying penalties or "liquidated damages". Excusable delays include "acts of God", natural disasters, fire, flood, earthquakes and epidemics, among other examples, according to extracts of past contracts filed with regulators. Non-excusable delays include anything that falls outside this catalogue, but are rare, experts say. 'OVER-OPTIMISTIC'"They are not excusable at all," Aengus Kelly, chief executive of lease giant AerCap (AER.N) told the Airfinance Journal conference when asked about the delays.

☆ Global air traffic may return to pre-Covid levels in June, with China leading the way
▼ + stars: | 2023-01-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Global air traffic will boom this year, returning to pre-pandemic levels in June, according to a new report. On Monday, international aircraft leasing company Avolon said it expected a full recovery in passenger traffic over the coming months, led by the reopening of markets in Asia, especially China. The news has further brightened the outlook for the aviation sector, which already experienced “a 70% recovery in passenger traffic last year led by recovery in Europe and North America,” Avolon noted. Currently, global air traffic has resumed to approximately 75% of November 2019 levels, IATA said last week. “Demand for travel is no longer the constraint to recovery, but airlines’ capacity to put planes in the air,” Avolon said in its statement.

☆ Sky-high rents hit the aircraft market as Boeing jets top $300,000 a month
▼ + stars: | 2022-08-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

The world's largest aircraft leasing firms, like Air Lease , Avolon and AerCap , which acquired GE 's airplane leasing business last year, are reaping the benefits. A tight supply of aircraft is driving up the price airlines pay to rent planes, just as travel demand returns. This year's surge in oil prices make newer, fuel-efficient planes more attractive than older ones, and higher interest rates could also drive up lease rates. "That will push lease rates higher through the rest of the year." Cronin said lease rates for Boeing Maxes and Airbus A320neos have risen by 10%-15% so far this year.

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