ORIX Corporation - IX STOCK NEWS

Dómhnal Slattery, founding CEO of Avolon, is stepping down after 12 years, during which he transformed the company into the world's second-largest aircraft lessor with assets exceeding US$30 billion. Andy Cronin, previously President and CFO, has been appointed CEO Designate. The transition aims for continuity and growth as Avolon seeks to maintain its industry leadership. Slattery's departure signals a new phase for the company, with Cronin's experience expected to facilitate ongoing innovation and development.

Avolon reported $86 million of net income (excluding Russia) for H1 2022, indicating recovery in the aircraft leasing sector. Lease revenue reached $1.2 billion for H1, while operating cash flow was $624 million. The company ended Q2 with total liquidity of $6.7 billion and over $16 billion in unencumbered assets. Avolon appointed Andy Cronin as CEO Designate following the announcement of founding CEO Dómhnal Slattery stepping down.

Avolon, an international aircraft leasing company, released its Q2 2022 update, reporting significant business activity. The company executed 54 lease transactions and entered into Letters of Intent for 13 aircraft's sale and leaseback. Avolon owned and managed a fleet of 591 aircraft with an additional 260 orders. Its credit rating was affirmed at BBB- with a Stable outlook, and it secured a $745 million credit facility extended to 2027. Notably, Avolon received an ESG Rating of 16.0, placing it in the 'Low Risk' category.

ORIX Corporation (NYSE: IX) has submitted its annual Form 20-F for the fiscal year ending March 31, 2022, to the U.S. Securities and Exchange Commission on June 29, 2022. The report details financial performance and operational metrics. Shareholders can request free hard copies of the audited financial statements. Established in 1964, ORIX offers diverse financial services globally, operating in 28 countries. The company emphasizes innovation and aims to develop a unique business model to create value and contribute positively to society.

Avolon, Corporación América Airports, GOL, Grupo Comporte, and Vertical Aerospace form a partnership to explore the infrastructure requirements for eVTOL passenger flight in Brazil. Brazil is set to become one of the pioneering markets for eVTOL services. The partnership will benefit from Corporación América Airports' expertise in airports design and operation. GOL and Grupo Comporte have committed to purchasing or leasing up to 250 of Vertical's VX4 eVTOL aircraft.

Avolon, the leading aircraft leasing company, reported Q1 2022 financial results showing a lease revenue increase to $658 million compared to $470 million in Q1 2021. Despite a net loss of ($182 million) due to a $304 million impairment related to Russia, adjusted net income was $80 million. Total liquidity decreased to $5.4 billion, though debt capacity expanded to $5.9 billion. The fleet comprised 592 aircraft with active leases extending on average 6.9 years.

Avolon, an international aircraft leasing company, reported significant activity in Q1 2022. The company executed 54 lease transactions, sold 3 aircraft, and entered Letters of Intent for the sale of 35 aircraft. Avolon’s fleet comprised 592 aircraft at quarter-end, with commitments for 240 new technology aircraft. Notably, leasing to Russian clients was terminated due to EU sanctions, affecting less than 1% of Avolon’s portfolio value. The company also finalized its entire orderbook of 500 VX4 eVTOL aircraft, announcing partnerships with AirAsia, Gözen Holding, and Air Greenland.

Vertical Aerospace (NYSE: EVTL) has announced that Avolon has successfully pre-ordered 500 VX4 electric aircraft within nine months, demonstrating substantial market demand for its technology. The VX4 will serve globally with pre-orders extending to regions including Turkey, UK, Japan, Brazil, and Southeast Asia, totaling a significant $5.4 billion in value. Avolon's collaboration with major airlines reflects confidence in Vertical's aircraft, which is on track for a mid-decade launch. The VX4 is designed for zero-emission travel, promising to revolutionize short-haul air travel.