$渤海租赁(SZ000415)$ Lease revenue for the three months to 30 June was US$619 million; - Adjusted profit of US$152 million for the quarter, when adjusted for non-cash impairment charges and accelerated amortisation related to airline restructurings, with a net loss of US$162m for the quarter; - Strong liquidity position at quarter end, with total liquidity in excess of US$5.1 billion; - Avolon’s capital strength was further enhanced in Q2 with a 34% reduction in near-term capital commitments to the end of 2021, resulting in a year to date cumulative 52% reduction in capital commitments in the 2020-2023 timeframe; - Buyback of US$639 million of Avolon senior unsecured notes maturing between 2021-2024, at a discount to par, realizing a net gain of $61m and further reducing near-term debt maturities; - As at 30 June, many of our customers had entered into short-term rental deferral arrangements or were in arrears on their rental obligations. As a result, Avolon’s aggregate increase in trade receivables and deferred revenue asset implied a lease revenue collection rate during the first half of 2020 of 68%, with two thirds of the collection shortfall related to deferral arrangements; - During Q2, 12 of Avolon’s customers were due to start repayments at the scheduled expiry of their deferral arrangements, 7 of these customers made payments in full and 5 customers have fallen into arrears or sought an extension to their short-term rental deferral arrangement for some or all of their rental obligations.