Further progress in reducing secured debt in capital structure

Avolon, the international aircraft leasing company, announces the repayment by Emerald Aviation Finance Ltd. (“Emerald”) of the outstanding US$407 million of its Class A-1 Fixed Rate Asset Backed Notes and Class B-1 Fixed Rate Asset Backed Notes (the “Notes”) associated with its aircraft securitisation. Following repayment, the Notes will be de-listed from Euronext Dublin (formerly the Irish Stock Exchange). Launched in 2013, Emerald was Avolon’s inaugural aircraft securitisation.

The repayment of the Emerald securitisation forms part of Avolon’s commitment to continue to reduce the level of secured debt within its capital structure.