Avolon - Experts & Thought Leaders

Avolon, the international aircraft leasing company, announced that its Chief Executive Officer (CEO), Dómhnal Slattery, has informed the Board of his intention to step down from his Executive role and from the Board in 2022. Avolon’s Board has unanimously appointed Andy Cronin, Avolon’s President & Chief Financial Officer (CFO), to the role of CEO Designate. In addition, Paul Geaney, Avolon’s Chief Commercial Officer (CCO) is appointed to the role of the President and Chief Commercial Officer (CCO), with immediate effect. Dómhnal Slattery Dómhnal Slattery is Avolon’s founding Chief Executive Officer (CEO) and has overseen the growth of the business from the largest private equity backed start-up globally in 2010 to becoming the world's second largest aircraft lessor, with a balance sheet in excess of US$ 30 billion. Having served for 12 years and built a business with a market-renowned team and franchise, Dómhnal Slattery has elected to step down from his Executive role and will now pursue a range of other interests in a Non-Executive capacity. Dómhnal will work closely with the new Chief Executive Officer (CEO), Andy Cronin, over the coming months, in order to ensure an effective transition of leadership. Andy Cronin Andy has played a central role as CFO and member of the Executive Committee Andy Cronin is a globally recognised leader within the aviation industry, having held an array of senior roles across the sector, for more than 20 years. As part of the founding team, and serving as Avolon’s Chief Financial Officer (CFO) for the past 12 years, Andy has played a central role as CFO and member of the Executive Committee, in building the company to the industry-leading position that it holds currently. In addition to his CFO role, Andy Cronin has served as President of Avolon, since July 2021. Dómhnal Slattery, Avolon’s outgoing Chief Executive Officer (CEO), commented “We have built Avolon from a start-up 12 years ago to become a global industry leader. It has been a privilege to lead the business and serve as its CEO since foundation. Avolon is incredibly fortunate to have an individual of Andy Cronin’s calibre to lead it on the next stage of its journey.” Commitment to Avolon’s vision and mission He adds, “Our ambition was to build a global leader with a team which would be recognised as the industry’s best. We have achieved that and I would like to thank the tribe – both past and present – and all of our industry partners and stakeholders for their commitment to realising the vision we had in 2010. Dómhnal Slattery continues, “The legacy of any CEO is the team they build. I am proud to step away from Avolon, leaving the business in a strong financial and competitive position, and in the hands of a leadership team which I know will continue to excel.” Featuring an incredibly talented and motivated team Avolon is a truly great business with an incredibly talented and motivated team" Andy Cronin, the Chief Executive Officer (CEO) Designate, said “Avolon is a truly great business with an incredibly talented and motivated team. I look forward to leading the company through our next phase of development and building on the success of the past 12 years, as we continue to innovate, evolve and grow.” Andy Cronin adds, “Dómhnal has led Avolon to become an industry leading business and made an outstanding contribution to the global aviation industry, during a career spanning over 30 years. On behalf of everyone at Avolon, I would like to thank him for his commitment to the business, as we have navigated our course to becoming an industry leader.” Building Avolon to become a global leader: 2010-Present Founded in 2010, Avolon was the largest privately founded start-up globally that year and Avolon’s launch shareholders included three of the leading private equity firms globally and GIC, the sovereign wealth fund of Singapore. Following four years in private equity ownership, Avolon listed on the New York Stock Exchange (NYSE) in December 2014, in what was, at that time, the largest ever listing on the NYSE by an Irish founded company. Avolon was the subject of a US$ 7.6 billion bid by Bohai Capital in 2015, which delivered a 55% annualised return to shareholders who invested in Avolon’s IPO. In 2017, Avolon acquired the aircraft leasing business of CIT for US$ 10.4 billion, propelling Avolon to becoming the third largest aircraft lessor in world. In 2018, Avolon announced that ORIX was becoming a shareholder in the business, acquiring a 30% stake in Avolon from Bohai Capital for US $2.2 billion implying a then enterprise value of US$ 23.7 billion. In 2019, Avolon successfully achieved its targeted Investment Grade rating – and was rated Investment Grade by Fitch, Moody’s, S&P Global & KBRA. In 2021, Avolon announced an order for 500 eVTOL VX4 aircraft from Vertical Aerospace, which was valued at US$ 2 billion. The order highlighted Avolon’s commitment to sustainability and its position as an industry leader and innovator. Since announcing that order, Avolon placed the entirety of its VX4 order book with leading global airlines. Avolon at a Glance From a standing start, Avolon has grown into the second largest aircraft lessor with total assets of over US$ 30 billion. As of 30 June 2022, Avolon has an owned, managed and committed fleet of 851 aircraft, serving 146 airline customers in 62 countries.

Avolon is delighted that An Taoiseach, Micheál Martin, and Irish Minister for Further and Higher Education, Research, Innovation, and Science, Simon Harris, TD, have announced government support for Innovate for Ireland, a transformative, globally unique doctoral scholarship programme originally conceived by their CEO, Dómhnal Slattery. Through a partnership between the Irish Government and the private sector, Innovate for Ireland will position Ireland as a global innovation leader by attracting, developing, and retaining world-class doctoral students on the island of Ireland over the next decade. Broader innovation ecosystem The Irish Government has agreed to match private-sector funding of up to €50m. This initial target fund of €100 million will fund 400 PhD students. It is intended that the programme will expand to provide 1,200 PhD scholarships over the coming decade. Avolon is supporting Innovate for Ireland alongside AIB Group. Innovate for Ireland is a first of a kind, world-class doctoral training programme Innovate for Ireland is a first of a kind, world-class doctoral training programme, which will establish Ireland as a globally-renowned hub of talent development and a destination of choice for students seeking to develop innovative solutions to the most pressing challenges of our time. It will become Ireland’s innovation and talent development calling card globally and it will enhance the role of Higher Education Institutions as a catalyst for Ireland’s broader innovation ecosystem. Calling card globally It will take a progressive approach to PhD training by recruiting cohorts of students around prioritised themes of research carried out in clusters of Higher Education Institutions across the island of Ireland. These cohorts will form the ‘i-Scholar’ Community and will be welcomed from all academic disciplines. The Innovate for Ireland programme will be managed through Science Foundation Ireland, in partnership with the Irish Research Council and the Health Research Board. Workplace-ready innovators Innovate for Ireland will hugely benefit both our economy and our society" Speaking about his vision for the programme, Avolon CEO, Dómhnal Slattery, said: “I strongly believe this will be a transformative initiative for this island, one that will not only establish Ireland as the destination of choice for world-class research students, but will also deliver a strong pipeline of workplace-ready innovators to our shores over the next decade.” He adds, “Innovate for Ireland will hugely benefit both our economy and our society. This ambitious collaboration will place this island of scholars exactly where we need to be, and that is at the forefront of game-changing global innovation.” Progressive society and economy Colin Hunt, Group Chief Executive of AIB, one of the initial enterprise partners supporting Innovate for Ireland, said: “Innovation is a critical driver of any progressive society and economy. It is through research that we learn about and improve life on our planet, not just for this generation, but for generations to come.” He adds, “AIB is delighted to commit as a founding cornerstone partner of Innovate for Ireland, empowering the talent of tomorrow to create a sustainable future for us all.”

Avolon, the international aircraft leasing company, announces that it has received its inaugural Environmental, Social, and Governance (ESG) Risk Rating score of 16.0 from Sustainalytics, one of the ESG rating companies in the world. Low ESG risk rating Avolon has been recognised by Sustainalytics as being in the ‘Low Risk’ category, reflecting Avolon's strong performance across a broad range of ESG metrics. Based on a scale of 100–0, from highest to lowest risk, Avolon’s score of 16.0 places it amongst the top 5% of its industry group in terms of its ESG performance. Dómhnal Slattery, Avolon CEO commented, “Our inaugural ESG rating is an important milestone for Avolon, and our strong rating reflects our commitment to ESG and our rigorous risk management framework." Sustainability Dómhnal Slattery adds, "At Avolon, operating responsibly as a business is central to our strategy, and is a source of trust for all of our stakeholders. Our low ESG risk rating reflects our commitment to sustainability, caring for our TRIBE and the communities in which we operate, and delivering long-term value for our shareholders." Dómhnal Slattery continues, "Our rating follows on from the publication of our first Sustainability Report earlier this year, which outlines our sustainability commitments over the next decade. These initiatives reflect our ambition to be a sustainability leader and at the forefront of innovation in the aviation sector.”