Posted on: 07 December 2018 by Mark Howells
Irish lessor Avolon has placed an order with Airbus valued at US$11.5 billion for 100 A320neo family aircraft, consisting of 75 A320neos and 25 A321neos.
The single-aisle aircraft are scheduled for delivery from 2023 onwards, it said, adding that Avolon will also now become the manufacturer’s largest aircraft lessor backlog customer.
The leasing company’s CEO, Dómhnal Slattery, said: “Our order for 100 A320neo family aircraft builds on our leading industry position and reflects our ambition to become the global leader in the sector. We are locking in growth well into the next decade and building on our existing order book of exclusively new technology aircraft. The scale of the order reflects the long-term commitment and strategic perspective of our shareholders.”
He added that the company continues to see “robust demand from our customers for the A320neo family. This is consistent with our own market research and global fleet forecast. Our order affirms our belief in the medium-term market outlook and the strong growth prospects for our business.”
Christian Scherer, Airbus chief commercial officer, commented: “This order underscores the market appetite for the efficiency, reliability and passenger appeal of our A320neo family. The A320 family of aircraft is a future-proof asset for investors and airlines alike. Avolon’s recent success is a testimony to its leadership’s dedication to our industry. Its commitment to Airbus reflects its profound market insights. I personally look forward to further extending this relationship as we go forward.”
Avolon’s orderbook with Airbus now increases to over 220 single-aisle and 45 twin-aisle aircraft. It has an owned, managed and committed fleet, as of 30 September 2018, of 890 aircraft. It is 70% owned by an indirect subsidiary of Bohai Leasing Co. Ltd., the Chinese public company listed on the Shenzhen Stock Exchange, with the other 30% held by ORIX Aviation Systems, a subsidiary of ORIX Corporation, listed on the Tokyo and New York Stock Exchanges.