Boeing Customer Avolon Encouraged by Production Ramp-Up
Avolon CEO Andy Cronin expressed optimism in Boeing's efforts to stabilize production after a seven-week strike in late 2023. Boeing recently delivered 45 aircraft in January, the highest monthly total since 2023.
"The clarity and visibility on the production line ramp-up is impressive," Cronin noted after visiting Seattle facilities in January. "We are really encouraged by what we are seeing."
Avolon, the second-largest aircraft leasing company globally, plays a significant role in Boeing and Airbus orders. "Production stability is the first step, and I think Boeing is making rapid progress," Cronin said.
However, Cronin cautioned that Airbus's robust fourth-quarter production has strained the supply chain. "It puts strain on the supply chain, and that stress continues," he said.
Avolon recently reported adjusted net income of $458 million for 2024, excluding $150 million in after-tax income from settlements related to aircraft stranded in Russia.