Avolon posted 2Q26 net income of $209 million, up 45% year over year—an acceleration from 1Q’s already strong 32% growth. Lease revenue rose 7% to $726 million. Trailing-12-month net income now stands at $702 million, up 31% year over year, putting Avolon on pace to meaningfully exceed its full-year 2025 result of $591 million.
This is the fourth consecutive strong quarter we’ve tracked from Avolon — 3Q24, full-year 2025, 1Q26, and now 2Q. The thesis we laid out after Q holds: the lessor story and the OEM production story are the same story, told from different sides. Every constraint slowing Airbus
and Boeing’s delivery cadence is, from Avolon’s side, a reason lease rates stay firm, and utilization stays high.
The Credit Upgrade That Confirms the Debt-Side Thesis
S&P Global Ratings upgraded Avolon to BBB during the quarter, aligning it with Moody’s Baa2 and Fitch’s BBB — the same rating tier Avolon’s larger rival AerCap holds. This is the exact pattern we flagged in the two-speed risk market piece: aircraft lessor credit keeps strengthening even as insurers harden pricing on the same underlying risk. Avolon’s own management framing was explicit that the upgrade reflects order book execution and active fleet management — not a one-off, but the credit-rating confirmation of a trend that’s been building across the leasing sector all year.
Avolon posted 2Q26 net income of $209 million, up 45% year over year—an acceleration from 1Q’s already strong 32% growth. Lease revenue rose 7% to $726 million. Trailing-12-month net income now stands at $702 million, up 31% year over year, putting Avolon on pace to meaningfully exceed its full-year 2025 result of $591 million.
This is the fourth consecutive strong quarter we’ve tracked from Avolon — 3Q24, full-year 2025, 1Q26, and now 2Q. The thesis we laid out after Q holds: the lessor story and the OEM production story are the same story, told from different sides. From Avolon’s side, every constraint slowing Airbus and Boeing’s delivery cadence is a reason lease rates stay firm, and utilization stays high.
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