MRO Magazine

Avolon Delivers a New A321 Aircraft to Philippine Airlines


March 27, 2015
By Business Wire News

DUBLIN

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.

Avolon
Jonathan Neilan
T: +353 1 663 3686
M: +353 86 231 4135
IR@avolon.aero
or
Jennifer Peters
T: +353 1 663 3684
M: +353 87 178 7021
IR@avolon.aero