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Avolon Q2 net income jumps 45% to $209 million

Dublin-based lessor Avolon reported a 45% year-on-year increase in Q2 2026 net income to $209 million. The firm saw lease revenue and operating cashflow rise amid persistent global aircraft supply constraints.

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Rob Munro
• 1 min read
Avolon Q2 net income jumps 45% to $209 million
Andy Cronin: "With demand for aircraft remaining strong and supply constraints continuing across the industry, our orderbook positions us well for continued growth".

Dublin-based aviation finance company Avolon reported Q2 2026 net income of $209 million on July 30, up 45% year-on-year from $143 million, as lease revenue and operating cashflow both increased amid continued industry-wide aircraft supply constraints.

Lease revenue for the quarter reached $726 million, up 7% from $678 million a year earlier. Operating cashflow rose 8% to $501 million, bringing the trailing 12-month total to $2.4 billion. Trailing 12-month net income stood at $702 million, up 31% year-on-year.

Total available liquidity increased 11% to $11.9 billion, comprising $356 million in unrestricted cash and $8 billion in undrawn debt facilities. Total assets stood at $33,962 million, down 1% from year-end 2025. The unsecured to total debt ratio rose to 79% from 77%, with net debt to equity at 2.5 times and a sources to uses ratio of 2.0 times.

S&P Global Ratings upgraded Avolon to BBB during the quarter, aligning the company's credit profile with existing ratings from Moody's (Baa2) and Fitch (BBB).

On fleet activity, Avolon acquired 21 aircraft and sold 30 during the quarter, ending the period with 109 aircraft agreed for sale and commitments for a further 503 aircraft. The company's owned, managed and committed fleet stood at 1,117 aircraft as of June 30, serving 138 airlines across 60 countries.

The board approved an interim dividend of $201 million in respect of the first half of 2026.

Chief executive Andy Cronin said, "We delivered another strong quarter, with net income increasing 45% year-on-year to US$209 million. During the period, S&P upgraded Avolon to BBB, aligning our ratings with Moody's and Fitch, and reflects the strength of our business and balance sheet. With demand for aircraft remaining strong and supply constraints continuing across the industry, our orderbook positions us well for continued growth."

The results reflect broader sector dynamics facing low-cost and regional carriers, where constrained aircraft and engine supply continues to support lessor pricing power and sustain demand for sale-and-leaseback transactions as airlines manage fleet renewal against tight OEM delivery schedules.

Rob Robins Egg 450x600
Rob Munro
• 1 min read

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