Huge Fleet: Avolon Has 581 Planes With An Average Age Of 5.5 Years

Avolon has turned its fortunes positive in the most recent quarter of the year. The lessor earned a $64 million profit, and is well-positioned to thrive in the coming years. Critical to its operations is its huge fleet of 581 aircraft, heavily weighted on the narrowbody side, with an average age of just over five years.

Avolon A321neo
Avolon has an average fleet age of just 5.5 years. Photo: Avolon

Major lessor turns a profit

The gigantic fleets of the world’s lessors are often overlooked in the wider aviation context. But many of these fleets are much larger than those of even some of the biggest airlines in the world. One such lessor is Avolon, a Dublin-based aviation leasing firm, which has a fleet of almost 600 aircraft.

The lessor published its second-quarter financial results today, and despite the challenges of the current aviation environment, it has turned a profit. The lessor published a lease revenue of $610 million in the quarter, leading to a net profit of $64 million. That’s compared to a net loss in the same quarter of 2020 of $72 million.

S7 A320 avolon
The lessor’s fleet is heavily weighted towards new technology narrowbody aircraft. Photo: Avolon

Dómhnal Slattery, Avolon CEO, commented,

“We have passed the inflection point and the recovery in global aviation is underway. However, as we have guided previously, the recovery will be uneven across different regions and markets with the pace of vaccine roll-out being the springboard for the return to air travel. While we remain cautious, the scale of the increase in demand in the US over the last quarter, and the pace of vaccination programmes globally, underscores our confidence in a continuing recovery through the remainder of this year.

“Reflecting the recovery, many of the key operational and financial metrics within our business continued to trend positively during the second quarter. We are seeing increased aircraft demand, improved traffic levels and fewer airlines in restructuring processes. As we work through the second half of the year and see increased activity among our airline customers, our expectation is that the sector will be strongly positioned to perform in 2022.”

AVOLON westjet 737 MAX
The lessor provides aircraft to 149 airlines. Photo: Avolon

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Avolon’s fleet

Avolon supplies aircraft to 149 airlines operating in 62 countries from a mix of airplane families. Currently, some 225 Airbus A320ceo family jets are delivered to customers, 201 of which are owned by Avolon, and a further 24 managed by the Irish lessor. It also owns 75 operational A320neo family aircraft, manages a further three and has commitments with Airbus for a further 192 of the type.

Complementing the single-aisle lineup are 135 total 737 NG family jets. 114 of these are owned by Avolon, while 21 are managed. On the latest generation 737 MAX side, it has 19 owned jets already delivered to customers, and fleet commitments for a further 31.

Although the lessor is very heavily weighted towards the single-aisle market, it does also have some widebodies. These include 54 A330-200s and -300s, 15 A350s with orders for a further two and 22 A330neos with orders in for 48. On the Boeing side, it has two managed 767s, three owned 777-300ERs and 28 Boeing 787s plus orders for a further five.

Avolon will be the launch customer for the Vertical VA-X4. Photo: Vertical Aerospace

The lessor states that its average owned fleet age is just 5.5 years, and that it’s not letting that fleet age slip. It has orders and commitments for a further 256 new technology aircraft to be delivered in the coming years. Not only that, but it has recently placed the world’s largest order for eVTOL aircraft, becoming the launch customer for Vertical’s VA-X4 with an order for 500 of the aircraft.