Avolon, the international aircraft leasing company, delivered its 100th Airbus A320neo, the second A320neo delivery to Cebu Pacific, under an agreement signed earlier this year.
The Philippine low-cost carrier has leased three new A320neos from Avolon, with the third aircraft set to be delivered later this month. Following the delivery, Avolon will have 12 aircraft leased to Cebu Pacific.
Avolon is making steady progress towards its goal of having 75% of its fleet comprised of new technology aircraft by 2025. The company has a robust order book pipeline for the A320neo family, including commitments to purchase an additional 184 aircraft of this type as of March 31, 2023. The A320neo has significant environmental benefits, such as 20% fuel savings and a reduction in CO2 emissions compared to previous-generation Airbus planes.
Avolon Remarks on 100th A320 delivery
Paul Geaney, Avolon’s President and Chief Commercial Officer, stated that this announcement is an important achievement in the long-standing partnership between Avolon and Airbus, considering that they are one of the largest A320neo family aircraft customers.
He added that they are thrilled to strengthen their collaboration with Cebu Pacific. Helping them enhance their fleet and achieve their sustainability objectives. Moreover, he expressed his delight in observing their clients in Asia. Subsequently, increasing their fleet size to cater to the growing travel demand in the region.
Alex Reyes, the Chief Strategy Officer of Cebu Pacific, stated that the recent delivery of the A320neo aircraft from Avolon shows the airline’s commitment to a more fuel-efficient fleet.
Reyes added that completing this delivery order with Avolon would help strengthen its position. As one of Asia Pacific’s top low-cost carriers.
Avolon is a leading international aircraft leasing and lease management company headquartered in Ireland.
Furthermore, The company has offices in various parts of the world. Including the United States, Dubai, Singapore, Hong Kong, and Shanghai. Bohai Leasing Co., Ltd, a public company listed on the Shenzhen Stock Exchange, indirectly owns 70% of Avolon.
ORIX Aviation Systems, a subsidiary of ORIX Corporation, is listed on the Tokyo and New York Stock Exchanges. They own the remaining 30% stake. Avolon is a global leader in the aircraft leasing industry. Further, it held, managed, and committed a fleet of 830 aircraft as of March 31, 2023.
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