Welcome to our dedicated page for Orix news (Ticker: IX), a resource for investors and traders seeking the latest updates and insights on Orix stock.
ORIX Corporation (NYSE: IX) generates a steady flow of news through its global financing, investment, asset management and operating businesses. As a group that reports activities across financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial and ICT equipment, ships and aircraft, ORIX regularly issues updates that are material for investors tracking IX stock.
News about ORIX often includes corporate developments at ORIX Corporation USA, the U.S. investment and asset management arm established in 1981. ORIX USA focuses on private credit, real estate and private equity solutions for middle-market focused borrowers and investors, and its releases cover topics such as leadership appointments, the organization of private credit platforms, and transactions including debt financing facilities for companies like Piano Software. ORIX USA also announces strategic acquisitions, such as the completion of a majority stake acquisition in Hilco Global, which then operates as a subsidiary of ORIX USA.
At the group level, ORIX issues news on governance and structure, including changes in Representative Executive Officers and Chief Executive Officer, and the creation of business units such as Japan & APAC, Infrastructure and USA & Europe supported by global corporate functions. Other announcements highlight the submission of annual Form 20-F reports, share repurchase status, and strategic transactions such as the tender offer for I-NET Corp. in the IT and information services sector.
Investors and followers of IX news can expect coverage of segment performance highlights, capital management actions like share repurchases and dividends, organizational reforms, international investments, and developments in areas such as private credit, real estate finance and infrastructure. This mix of corporate, financial and transaction-related news helps provide context on how ORIX is executing its multi-segment, multi-region strategy over time.
The aviation sector is poised for recovery in 2023, with global passenger traffic expected to return to pre-pandemic levels by June, driven significantly by China's reopening. Avolon forecasts a profit of approximately $4.7 billion for the sector this year following a partial recovery in 2022. Key findings indicate airlines are improving revenues despite lower traffic, while manufacturers face delivery delays leading to aircraft shortages, enhancing the long-term value of existing planes. Lease rates are expected to rise, benefiting lessors that now manage over 53% of the global passenger fleet. Sustainable Aviation Fuel (SAF) production needs substantial investment to meet future demands.
Avolon reported strong performance for 2022, executing 237 lease transactions and delivering 107 aircraft. A notable agreement with Malaysia Airlines includes financing for 20 A330-900neo aircraft valued over $2 billion. The company raised $2.2 billion in new financing, increasing its total revolving debt capacity to over $6 billion. Avolon received a Low Risk ESG rating of 16.0 from Sustainalytics and partnered for a Sustainable Aviation Fuel study. The outlook for 2023 remains positive as global travel demand recovers.
Avolon reports a net income of $141 million for Q3 2022, showing significant recovery from a net loss of $33 million in the same period the previous year. The company recognized $546 million in lease revenue and generated $278 million in operating cash flow. Total available liquidity reached approximately $6.8 billion, boosting financial stability. Avolon also announced a landmark financing transaction with Malaysia Airlines for 20 aircraft valued over $2 billion. This performance marks the strongest quarter for Avolon post-pandemic.
Avolon, the international aircraft leasing company, released its Q3 2022 update, highlighting significant fleet activities. The company completed 54 lease transactions, including a major deal with Malaysia Airlines for 20 A330-900neo aircraft valued over $2 billion. Avolon sold 13 aircraft and delivered 4 to various customers. The fleet expanded to 568 owned and managed aircraft, with 265 new technology aircraft on order. Additionally, Avolon upsized its unsecured revolving credit facility by $0.2 billion, now totaling $4.6 billion, while announcing key leadership appointments.
Avolon appoints new executive team members
Ross O’Connor is now Chief Financial Officer, Felipe Campos becomes Chief Operating Officer, and Jim Morrison is appointed Chief Risk Officer. All three are elevated from senior management positions and will join the Executive Committee immediately. Following a transition, Dómhnal Slattery has stepped down as CEO, with Andy Cronin assuming the role. This restructuring aims to bolster Avolon's leadership as a leader in the global aircraft leasing sector.
Avolon has entered a financing transaction with Malaysia Aviation Group to acquire 20 A330-900neo aircraft, which will be powered by Rolls-Royce engines. This deal entails leasing 10 of the aircraft from Avolon's orderbook and 10 directly acquired from Malaysia Aviation Group. Deliveries are scheduled from 2024 onward, strengthening Avolon's fleet position as they now have only two unplaced A330neo. The collaboration enhances MAG’s operational efficiency and positions it to capitalize on the recovering Asian aviation market.
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
Avolon reported
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.
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