Irish lessors AerCap and Avolon saw their owned, managed and committed fleets move in opposite directions in the second quarter, with AerCap’s portfolio shrinking 6.7% to 1,373 aircraft while Avolon’s grew 3.6% to 923 aircraft compared to the year-ago period.

During the quarter, AerCap signed lease agreements on 48 aircraft—up from 40 a year earlier—bought 11 aircraft and sold 23. The company signed financing transactions for $1.5 billion during the quarter.

Avolon’s lease transactions for the quarter dropped by more than half, from 50 to 24. The lessor delivered 15 new aircraft and transitioned 11 to follow-on customers. The company also sold 38 aircraft during the quarter, including 34 regional aircraft.

As of June 30, Avolon’s owned and managed fleet was down 6% to 530 aircraft, although its total orders and commitments for new-technology aircraft rose to 393 from 328 a year earlier.  

During the quarter, Avolon closed a $2.5 billion private offering. The company said this was higher than its original $1.8 billion target because of significant investor demand. 

Victoria Moores, victoria.moores@informa.com