Avolon: 2014 Q1 Trading Update

Dublin | 11 April, 2014: Avolon, the international aircraft leasing group, today issues a trading update for the first quarter of 2014. At the end of the quarter, Avolon’s committed fleet reached 202 aircraft serving 47 customers globally.

Highlights
 Committed fleet reached 202 aircraft; up from 167 aircraft at end of Q1 2013.
 Committed fleet increased by 20 aircraft in Q1 2014 valued at US$1.3 billon at base value.
 Continued strong momentum during the quarter in placement of forward order book; next availability Q1 2016.
 Sold 12 aircraft in the past 12 months; 21 aircraft cumulatively in the past 24 months.
 Expanded customer base to 47 airlines.
 Sourced US$800 million of debt commitments in Q1 2014 bringing total debt raised to US$6.1 billion.

Financial Strength & Industry Franchise
 Strong balance sheet and liquidity: total capital raised now US$7.5 billion; an increase of US$2.4 billion compared to end of Q1 2013.
 US$800 million of additional debt commitments in Q1 2014 including a secured, 8 year US$500 million facility to fund new aircraft deliveries in 2014.

Aircraft Fleet
 Committed fleet grew by 20 aircraft in Q1 2014 bringing total fleet to 202 aircraft. Net of completed aircraft sales, committed fleet increased by 35 aircraft in past 12 months.
 Strong momentum during the quarter in placement of forward order book; fully placed until Q1 2016.
 Avolon maintains the youngest large lessor fleet in the world with an average aircraft age of 2.5 years.

Global Customer Base & Team
 Avolon’s customer base reached 47 airlines in 27 countries at the end of Q1 2014; an increase of 12 customers on Q1 2013.
 Consistent performance and growth of the Avolon business has been driven by the strength and experience of the Avolon team which now comprises 55 professionals across 6 offices.