DUBLIN- Avolon, a prominent global aviation finance company, has formalized a binding agreement for the procurement of 20 new A330neo aircraft from Airbus, thus solidifying a previously established memorandum of understanding inked during the Paris Airshow in June.
The delivery schedule for these new aircraft is set between 2025 and 2028.
Avolon Airbus New Orders
Avolon was among the inaugural customers for the A330neo program back in 2014 and is currently experiencing robust demand from customers for additional widebody aircraft, having successfully allocated its existing order book.
With a fleet of more than 1,400 A330ceo aircraft already in operation, airlines are exploring the possibility of transitioning to the A330neo aircraft, which offers an extended range of over 13,300 kilometers (7,200 nautical miles) and boasts a 25% reduction in fuel consumption and CO2 emissions.
Furthermore, this agreement with Airbus also confirms the conversion of 50 A320neo aircraft, previously ordered by Avolon, into the larger A321neo model.
Executive Insights
Andy Cronin, Avolon’s CEO, provided the following statement: “We’ve identified a significant demand for widebody aircraft within the delivery timeframe for these planes. Given that we’ve already allocated our existing widebody pipeline, these new aircraft will play a crucial role in supporting our future expansion plans and offering viable choices to airlines seeking to replace older A330ceo aircraft with the more fuel-efficient A330neo. This order reinforces our strong partnership with Airbus, as we were among the first customers for the A330neo and solidifies our position as the leading lessor specializing in this aircraft type.”
Christian Scherer, Chief Commercial Officer and Head of International at Airbus shared his thoughts: “It’s truly exciting to witness Avolon once again making additional investments in the A330neo aircraft and leading the lessor market in the reordering of widebody aircraft. Avolon’s strategic vision and timing are impeccable with this commitment to add 20 more aircraft to its portfolio. Avolon stands to benefit from the remarkable growth and aircraft replacement trends we currently observe across all markets, and we wholeheartedly welcome the continuation of our partnership with them.”
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