Avolon CEO: Lower Funding Costs, Rising Gulf Carriers Lifting Results

Avolon Holdings beat Wall Street analyst estimates in the fourth quarter as a result of lower funding costs and profitable aircraft trading, said the company's CEO Domhnal Slattery. Slattery added that the airplane lessor's results were also boosted by strength among its Gulf carrier clients. Avolon's total revenue increased by $49 million, or 39%, to $173 million for the fourth quarter compared to $124 million for the same period in 2013. The company's adjusted net income increased by $21 million, or 74%, to $49 million for the quarter compared to $28 million for same period last year.