Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Avolon CEO says Q1 business boosted by China reopening

by Uma Rajagopal
0 comments
2023 04 06T075819Z 1 LYNXMPEJ3509E RTROPTP 4 UKRAINE CRISIS AVOLON

DUBLIN (Reuters) – Aircraft leasing company Avolon on Thursday said the reopening of China after it eased strict COVID-19 rules has boosted levels of leasing and trading activity.

The company added three customers in the first quarter for a total of 147 airlines and executed 31 lease transactions, it said in a business update.

“The year has started with positive momentum as airline passenger growth continues and the impact of reopening in China feeds into increasing travel in the region,” CEO Andy Cronin said in the statement.

The Dublin-based lessor said it owned and managed a fleet of 578 aircraft at end of the quarter, with orders and commitments for 252 fuel-efficient, new technology aircraft.

It said it was on track to achieve its target of 75% fuel-efficient, new technology aircraft by 2025, with 55% new technology currently, up from 50% a year earlier.

 

(Reporting by Graham Fahy; editing by Jason Neely)