Dómhnal Slattery, CEO, Avolon
Together, Avolon, Bohai Leasing and HNA Group is the world’s fourth largest aircraft leasing business by asset value.
Avolon, the international aircraft leasing company is now as a wholly owned, indirect subsidiary of Bohai Leasing, a global leader in transportation (container and aircraft) leasing.
Following the completion of the merger on January 8th, 2016, Avolon assumed management of Hong Kong Aviation Capital (HKAC) with a total fleet of over 400 aircraft. This marks an exciting phase of growth for the company.
In addition, Avolon released its 2015 fourth quarter and full year results and announced that Bohai Leasing is investing an incremental $1.2bn of equity capital in the business bringing Avolon’s total available liquidity to $2bn to accelerate growth in 2016 and beyond.
Avolon is now the core aircraft leasing brand for Bohai Leasing and its parent, HNA Group. Together with HNA Group and Bohai’s other aircraft leasing interests, Avolon is the world’s fourth largest aircraft leasing business by asset value.
In 2015, Avolon grew significantly and the company delivered 32 new aircraft to 17 airlines in 14 countries. Avolon also signed new sale and leasebacks for 38 aircraft in 2015 of which 22 deliver in 2016 and 13 in 2017. In addition, the company continued momentum in aircraft sales with17 aircraft sold in 2015.
“Following another active year in 2015, we enter 2016 as a substantially larger and stronger business with a fleet of over 400 aircraft, Dómhnal Slattery, Avolon CEO, said. “As the core leasing brand for Bohai Leasing and the HNA Group, we are excited about the prospects for the business. Bohai has now committed incremental equity of $1.2bn to the business which provides us with total available liquidity of $2bn to deliver on our ambitious growth objectives. Our target is to become a top three player in the global industry and we will achieve that through a combination of both organic and acquisition growth.”
Avolon’s owned fleet has an average aircraft age of 3.2 years making it the youngest owned fleet of the top 10 lessors globally. Its fleet includes direct orders from manufacturers for new technology aircraft, including 105 Airbus neo aircraft (A320 family and A330); 20 Boeing 737 MAX aircraft; and 6 Boeing 787-9 aircraft.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Together, Avolon, Bohai Leasing and HNA Group is the world’s fourth largest aircraft leasing business by asset value.
About the CEO
Dómhnal Slattery is the founding CEO of Avolon, a global leader in the aircraft leasing industry. His ability to build and rapidly scale a market-leading aircraft leasing platform is evident in his successful establishment of IAMG, RBS Aviation Capital and Avolon through three business cycles – from the early 1990s to today.
In 2010, he founded Avolon, a global aircraft leasing business which, in five years has been built into one of the top 10 lessors in the world. Avolon listed on the New York Stock Exchange in December 2014 in what was the largest ever listing on the NYSE by an Irish-founded company.
In August, 2015, Avolon announced a merger agreement with Chinese leasing company, Bohai, which valued Avolon at $7.6bn. Slattery has a Bachelor of Commerce (Hons) from University College Galway and is a graduate of the Accelerated Development Programme from the London Business School.
Business & Finance, Company of the Month
Business & Finance, in association with SAS Ireland, recognises excellence in business through the ‘Company of the Month’ award. The Company of the Month award recognises the company which best demonstrates outstanding business leadership, sustainable growth, innovative strategy, strong financial returns and employee development.
