Company reaches record operating cashflow of $2bn
Profits at Irish aircraft lessor Avolon soared last year with the company reaching a record $2 billion in operating cashflow as the business continued to grow.
The company’s net profit rose by 79 per cent to $608 million , boosted by a net $150 million payout from insurance claims relating to aircraft previously leased to Russian airlines.Office attendance is becoming a performance metricOver the 12 months, total available liquidity was $11.6 billion, including $3.1 billion of unrestricted cash and $7.2 billion in undrawn debt facilities.
It placed 30 aircraft from its orderbook during the year, ending 2024 with its orderbook fully placed for the next 24 months. The company also closed the acquisition of Castlelake Aviation after the reporting period, integrating the company and adding 116 aircraft to Avolon’s owned and committed fleet.
By the end of the year, Avolon had an owned, managed and committed fleet of 1,129 aircraft including the Castlelake fleet.“We delivered growth across all our key financial and operational metrics, including net income growth of 79 per cent and a record $2 billion of operating cashflow,” he said.
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