Avolon: 2014 Full Year Update

Dublin | 20 January, 2015: Avolon (NYSE: AVOL), the international aircraft leasing company, today issues an update for the fourth quarter and full year 2014. Avolon concluded 2014 with a delivered (owned and managed) fleet of 137 aircraft and commitments for 98 aircraft for additional growth.

2014 Full Year Highlights
 Completed initial public offering and admitted to listing on the New York Stock Exchange in December 2014 under the symbol AVOL.
 Owned and managed delivered fleet of 137 aircraft at the end of 2014 increased by 28 aircraft or 26% year-on-year.
 Owned, managed and committed fleet increased by 53 aircraft year-on-year to 235 aircraft at the end of 2014.
 Signed lease agreements for 46 aircraft during 2014.
 Took delivery of 41 aircraft in 2014 including 5 aircraft owned
by Avolon Capital Partners, a joint venture between Avolon and Wells Fargo, launched in 2013.
 Added 8 new customers, increasing total customer base to 49 airlines.
 Sold 9 aircraft in 2014 which brings total sales since inception to 27 aircraft.
 Owned fleet had an average age of 2.52 years and an average lease term remaining of 7.11 years at the end of 2014.
 Total commitments for 98 aircraft delivering 2015 to 2022 including B737 MAX, A320neo, A330neo and 787 Dreamliners. 2014 highlights include:
o Signed purchase agreement to acquire 15 new A330neos from Airbus as a launch customer on the programme.
o Signed purchase agreement to acquire 6 new 787 Dreamliners from Boeing.
 Raised additional debt financing commitments of US$2.3 billion.
 US$1.2 billion of available debt was undrawn at the end of 2014.

2014 Fourth Quarter Highlights
 Signed lease agreements for 11 aircraft.
 Took delivery of 8 aircraft.
 Sold 4 aircraft in the quarter.
 Raised additional debt financing commitments of US$0.3 billion.
 Signed purchase agreement with Airbus to acquire 15 new A330neos.