Dublin, 8 July 2014: Avolon, the international aircraft leasing group, today issues a trading update for the second quarter of 2014. Avolon took delivery of 13 owned and 2 managed aircraft in the second quarter, secured additional debt commitments of US$920 million and ended the period with an owned, managed and committed fleet of 202 aircraft.

Q2 2014 Highlights
 Owned, managed and committed fleet reached 202 aircraft compared to 171 at the end of Q2 2013.
 Average aircraft age of 2.4 years for Avolon’s owned fleet.
 Took delivery of 13 owned aircraft in Q2.
 Two owned aircraft sold in the period.
 Avolon Capital Partners (Avolon’s joint venture with Wells Fargo) took delivery of two aircraft in Q2.
 Secured US$920 million additional debt commitments in Q2 including a new US$500 million secured debt facility, the second secured portfolio financing facility to be closed in 2014. Avolon also increased its unsecured revolving facilities to US$375 million, up from US$150 million in Q1 2014 and extended, re-priced and increased the size of its warehouse facility.
 Avolon added Bank of Ireland to its lending group when the bank participated in the US$500 million secured facility which was completed in Q1 2014.
 Global customer base has increased by 12 airlines year-on-year to 48 airlines at the end of Q2.
Financial Strength & Industry Franchise
 Successfully closed a US$500 million secured debt facility in Q2 following closure of a similar facility in Q1 2014: – Second facility will be available to fund new deliveries in 2014 and 2015
- Joint Lead Arrangers on this financing were Deutsche Bank, HSBC, and National Australia Bank.
 During Q2, Avolon also increased the size of its unsecured revolving facilities to US$375 million; extended, re- priced and increased the size of its warehouse facility; and added US$151 million of further bilateral secured facilities, bringing total new debt capital raised in the quarter to US$920 million.
 Avolon has raised commitments of US$1.6 billion in the first half of 2014 in addition to extending and re-pricing its warehouse facility and, as of 30 June 2014, had US$1.4 billion of undrawn debt commitments available.

 Avolon received three industry awards in Q2:
- Europe Deal of the Year Award 2013 awarded by Airfinance Journal
- Debt Capital Markets Deal of the Year Award 2014 awarded by Finance Dublin
- Aviation Leasing Achievement Award at the 2014 Aviation Industry Awards sponsored by the Irish Aviation Authority

Fleet & Customer Growth
 Avolon ended the second quarter with a total owned, managed and committed fleet of 202 aircraft (116 owned, 12 managed and 74 committed).
 Avolon’s customer base increased by 12 airlines on the same period last year. Avolon now serves 48 customers in 27 countries globally: new customers added in Q2 2014 include Copa Airlines, Ethiopian Airlines, Peach Aviation and Xiamen Airlines.