Avolon is a Dublin-headquartered aircraft leasing company founded in 2010, 70% owned by Bohai Leasing (an indirect subsidiary of HNA Group, listed on the Shenzhen Stock Exchange) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation (TSE: 8591, NYSE: IX). Avolon owns, manages and has committed to a fleet of 1,117 aircraft serving 138 airlines across 60 countries, with total assets of $33.96 billion at 30 June 2026.

Trailing 12-month net income stood at $702 million, up 31% year on year, with trailing 12-month operating cashflow of $2.4 billion. Total available liquidity reached $11.9 billion, up 11%, comprising $356 million in unrestricted cash and $8 billion in undrawn debt facilities. During Q2, S&P Global Ratings upgraded Avolon to BBB, aligning its rating with existing Moody's Baa2 and Fitch BBB assessments, reducing cost of unsecured debt which now represents 79% of total debt. The board approved an H1 2026 interim dividend of $201 million.

The structural driver is persistent aircraft supply constraint. Boeing and Airbus combined deliveries have run approximately 20 to 25% below pre-pandemic guidance each year since 2022, extending the operating lives of in-service aircraft, sustaining demand for operating leases at elevated rates, and reducing airline bargaining power in renewal negotiations. Lessors with established fleets cannot be displaced by airlines seeking new aircraft from OEMs on lead times now stretching to 2032 or beyond for new entrants.

Avolon's 503-aircraft forward order commitment is the key long-term asset. It guarantees future delivery slots in a market where that access is scarce. Lease revenue growing 7% while total assets declined 1% is the clearest expression of that pricing power: Avolon is generating more revenue from a marginally smaller asset base because lease rates on renewals and new placements exceed those on maturing contracts.

For Ireland, the Avolon results sit alongside ORIX Aviation's AerFin acquisition and IAG's strong H1 Aer Lingus traffic performance as three distinct signals that Dublin's aviation cluster is generating and attracting top-tier commercial activity simultaneously, making it the most active aviation finance hub outside the United States.

Source: aviationbusinessnews.com / avolon.aero / businesswire.com / grokipedia.com