Dépêches

Avolon acquires two A321 aircraft for delivery to US Airways

Dépèche transmise le 8 mai 2012 par Business Wire

DUBLIN & STAMFORD, Conn--(BUSINESS WIRE)--Avolon, the international aircraft leasing group, today announces that it has acquired two Airbus A321 aircraft which will be delivered new to US Airways this year. The aircraft will be leased to and operated by US Airways, the operator of the world’s largest fleet of Airbus aircraft.

Avolon

Avolon is an established, international aircraft leasing firm with a primary focus on young, fuel efficient aircraft such as the Airbus A320 and Boeing 737 families. Avolon currently has a fleet of 103 aircraft and has the youngest large lessor fleet in the world with a fleet age of 1.4 years.

Avolon is a strong, well capitalised business that has raised committed capital of US$4.6 billion since May 2010. This includes an equity commitment of US$1.4 billion from four of the world’s leading investors: Cinven, CVC Capital Partners, Oak Hill Capital Partners and The Government of Singapore Investment Corporation (“GIC”). Avolon was recently awarded the 2011 ‘Equity Deal of the Year’ by Airfinance Journal for its US$300 million equity commitment from GIC that closed in October, 2011.

Paul Geaney, Head of Americas, Avolon, commented:

“We are delighted to welcome US Airways as a new customer to Avolon. As a highly regarded US major, US Airways has a very broad spectrum of fleet financing options available to them, as demonstrated by their highly successful EETC issuance last week. The fact that they selected Avolon as their preferred financing solution for these aircraft reflects the strength of our financial backing and our deep experience in delivering innovative sale and leaseback solutions to the world’s airlines.”

Tom Weir, Vice President and Treasurer, US Airways, added:

“In a rapidly evolving market, having a flexible and reliable partner to work on fleet financing solutions is important. We are pleased to have completed this transaction with Avolon to finance two of the airline’s 12 Airbus aircraft scheduled for delivery in 2012 as part of our previously-announced fleet plan. We are also pleased to announce that this transaction, in combination with previously announced EETC and mixed-market debt transactions, completes the Company's efforts to secure firm financing commitments for all scheduled deliveries through the first quarter of 2013. We look forward to a continued relationship with the Avolon team in the future.”

ENDS

About Avolon

Headquartered in Ireland, with offices in Stamford CT, Hong Kong, Shanghai, Singapore and Dubai, Avolon provides aircraft leasing and lease management services. Avolon’s investors include three of the world’s leading private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners and one of the world’s leading sovereign wealth funds, Government of Singapore Investment Corporation (GIC).

Avolon has established itself as one of the leading global players in the aircraft leasing sector, leveraging off the strong financial backing of its owners and the extensive trading history and senior industry relationships of its management team. The primary asset focus of the business is on young fuel-efficient single-aisle aircraft such as the Airbus A320 family and Boeings 737NG family. In addition, Avolon also invests in best-in-class twin-aisle aircraft such as the Airbus A330 family and Boeing 777 family. Avolon has a fleet of 103 aircraft serving 31 customers in 20 countries. Avolon’s fleet is also the youngest fleet in the world with an average aircraft age of 1.4 years. See www.avolon.aero.

About US Airways

US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,200 flights per day and serves more than 200 communities in the U.S., Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America. The airline employs more than 32,000 aviation professionals worldwide, operates the world’s largest fleet of Airbus aircraft and is a member of the Star Alliance network, which offers its customers more than 20,500 daily flights to 1,293 airports in 190 countries. Together with its US Airways Express partners, the airline serves approximately 80 million passengers each year and operates hubs in Charlotte, N.C., Philadelphia and Phoenix, and a focus city in Washington, D.C. at Ronald Reagan Washington National Airport. Aviation Week and Overhaul & Maintenance magazine presented US Airways with the 2012 Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award for demonstrating outstanding achievement and innovation in the area of technical operations. US Airways was the only airline included as one of the 50 best companies to work for in the U.S. by LATINA Style magazine’s 50 Report for 2010 and 2011. The airline also earned a 100 percent rating on the Human Rights Campaign Corporate Equality index for six consecutive years. The Corporate Equality index is a leading indicator of companies’ attitudes and policies toward lesbian, gay, bisexual and transgender employees and customers. For more company information visit usairways.com, follow on Twitter @USAirways or at Facebook.com/USAirways.