Boeing is "undoubtedly" making significant progress in getting on top of quality issues, the head of Avolon, the world's second largest aircraft leasing firm and a major Boeing customer, said on Thursday. Boeing was hit by the latest in a series of problems on Jan. 5 when a door panel flew off one of its 737 MAX 9 jets in the midst of an Alaska Airlines flight. Avolon CEO Andy Cronin said preliminary findings from a U.S. regulatory investigation into the incident were "positive", in not appearing to show any design implications for the aircraft or systemic production issues.
Avolon reported that its fourth quarter net income increased to $110 million from $41 million, prior year. Adjusted EBITDA was $684 million, up 17%. Lease revenue was $674 million, an increase of 13%.