Avolon leased 237 aircraft in 2022

It emerged in November that Avolon was suing Lloyds Insurance Company over 10 aircraft that Russian airlines kept following the country’s invasion of Ukraine.

The Irish company terminated leases with the carriers to comply with sanctions against Russia, but the airlines did not return the aircraft. Avolon has always maintained that it has valid insurance policies covering the 10 aircraft, whose loss cost it $261 million. During 2022, Avolon agreed a landmark deal to finance 20 Airbus A330-900 aircraft, worth more than $2 billion, for Malaysia Airlines.

Andy Cronin, Avolon chief executive, said the pent-up demand for travel that followed the re-opening of borders made 2022 a successful year.“We are well positioned to continue to support our customers and capitalise on the improving market backdrop,” Mr Cronin added.

Source: News Formal (newsformal.com)

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