Irish lessor Avolon posted a loss of $ 2020 million in 37. Just a year earlier, the company had a profit of $ 225 million.

The company has a fleet of 850 aircraft that is leased to 142 airlines in 61 countries. Due to the Corona crisis, numerous aircraft were not in use. Many customers were also financially accommodated, which ultimately had a negative impact on Avolon's operating results.

“2020 was an extremely challenging year for the aviation industry worldwide. As the pandemic developed, governments were forced to impose travel bans, resulting in grounded fleets that had a serious and immediate impact on the world's airlines. We have worked closely with our customers to provide support while carefully managing our own capital position, ”said Avolon CEO Domhnal Slattery.

The lessor was able to deliver 57 new machines to a total of 26 airlines in the previous year. In addition, 44 aircraft were acquired as part of sale and leaseback deals. It was possible to sell 29 machines. It was also able to negotiate purchase contracts for 28 more aircraft as well as leasing contracts with customers for 141 aircraft. Over the year 2020, 98 percent of the fleet was leased.