TOULOUSE- Avolon, a prominent global aviation finance company, has entered into agreements to purchase 100 A321neo aircraft from Airbus, increasing its total order for the A321neo to 190 aircraft and 40 737 MAX aircraft from Boeing. The scheduled delivery of these aircraft extends until 2032.
This agreement ensures Avolon’s ongoing access to the delivery pipeline for the world’s preferred single-aisle family of aircraft.
Avolon A321neo and 737 MAX Order
Avolon has incorporated 200 state-of-the-art aircraft into its orderbook this year directly from original equipment manufacturers (OEMs), building upon previous orders for 20 Airbus A330neos in September and 40 Boeing 737 MAXs in June.
With this expansion, Avolon’s owned, managed, and committed fleet grows from 897 as of September 30, 2023, to a total of 1037 aircraft.
The A320neo and 737 MAX aircraft families contribute to a reduction in fuel consumption and carbon emissions by up to 20% compared to the older generation aircraft they are set to replace.
The substantial scale of these new commitments underscores Avolon’s capability to provide customers with fuel-efficient aircraft well into the next decade.
These orders constitute binding contracts, pending approval by shareholders of Bohai Leasing Co., Ltd., Avolon’s 70% shareholder, with anticipated approval before the end of the year.
Andy Cronin, Avolon’s CEO, remarks on the Boeing 737 MAX order: “The orders placed today fortify our delivery pipeline and underscore our confidence in the aviation industry’s long-term prospects. We have made substantial commitments to acquire 200 new, fuel-efficient aircraft this year, contributing to the transition of our fleet to more environmentally friendly options. The size of our orderbook is indicative of Avolon’s robust balance sheet, our proven ability to execute quickly, and the enduring relationships we maintain with both Airbus and Boeing.”
Andy Cronin, Avolon’s CEO, stated his views on the A321neo order, “This order reinforces our delivery pipeline and underscores our confidence in the long-term growth prospects of the aviation industry. Avolon now has 292 A320neo family aircraft on order, ensuring our capacity to support customers’ replacement and fleet expansion plans well into the next decade. The order reflects the robustness of Avolon’s balance sheet and our established ability to execute transactions swiftly. We are pleased to strengthen our longstanding relationship with Airbus, building on our earlier order for 20 A330neos earlier this year.”
Christian Scherer, Chief Commercial Officer and Head of International at Airbus commented, “This investment in the A321neo is a testament from one of the world’s leading lessors to the unparalleled value generated by the world’s most versatile single-aisle aircraft for its lessor and operator base. It signifies Avolon’s vision to secure slots for the long term for its robust airline customer portfolio, aligning with the right aircraft for the future. This strategic move positions Avolon and its customers to benefit from the significant wave of growth and replacements observed globally across all markets.”
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