Avolon Delivers a New A321 Aircraft to Philippine Airlines
March 27 2015 - 4:11AM
Business Wire
Sixth Avolon aircraft on lease to Philippine
flag carrier
Avolon (NYSE: AVOL), the international aircraft leasing company,
today announces the delivery of an A321 aircraft to Philippine
Airlines (‘PAL’). The delivery is Avolon’s sixth aircraft on lease
to PAL, comprising five A320 family aircraft and one A330
aircraft.
Simon Hanson, Avolon Head of Asia, commented:
“Avolon continues to grow its business with airlines in the Asia
Pacific region – this is a key market for the future growth of
commercial aviation and one in which we want to play a significant
part. Through our strong committed order book of new technology
aircraft and our proven ability to execute sale and leaseback
transactions, we are able to support the growth of airlines in Asia
and around the world. We are very pleased to deepen our
relationship with PAL as they continue to develop a young, modern
fleet to serve their expanding customer base and we look forward to
continuing our great relationship with them in the years
ahead.”
Jaime Bautista, Philippine Airlines President & Chief
Operating Officer, added:
“Avolon is one of our key lessor relationships. We have been
doing business with Simon Hanson and the team for many years and we
deeply value their continued support. This new A321 is a core part
of our fleet and will continue to provide the best customer
experience to our valued customers. We are looking forward to
working with Avolon for many years to come. In this business long
term trusted relationships is what it’s all about.”
ENDS
About Avolon
Headquartered in Ireland, with offices in the United States,
Dubai, Singapore and China, Avolon provides aircraft leasing and
lease management services. Avolon had an owned, managed and
committed fleet of 235 aircraft serving 49 customers in 28
countries as of December 31, 2014. Avolon is listed on the New York
Stock Exchange, under the ticker symbol AVOL.
www.avolon.aero
Forward Looking Statements
This document includes forward-looking statements, beliefs or
opinions, including statements with respect to Avolon’s business
and lessee relationships, and plans. These forward-looking
statements involve known and unknown risks and uncertainties, many
of which are beyond our control and all of which are based on our
management’s current beliefs and expectations about future events.
These risks, uncertainties and assumptions include, but are not
limited to, the following: general economic and financial
conditions; the financial condition of our lessees; lessee defaults
and attempts to repossess aircraft; our ability to successfully
re-lease our existing aircraft and lease new aircraft; our ability
to negotiate and enter into profitable leases; periods of aircraft
oversupply during which lease rates and aircraft values decline;
changes in the appraised value of our aircraft; competition from
other aircraft lessors; and the limited number of aircraft and
engine manufacturers. These and other important factors, including
those discussed under “Item 3. Key Information—Risk Factors”
included in our Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission on March 3, 2015, may cause our
actual events or results to differ materially from any those
expressed or implied by the forward-looking statements contained in
this document. We expressly disclaim any obligation or undertaking
to update these forward-looking statements contained in this
document unless required to do so by applicable law.
AvolonJonathan NeilanT: +353 1 663 3686M: +353 86 231
4135IR@avolon.aeroorJennifer PetersT: +353 1 663 3684M: +353 87 178
7021IR@avolon.aero