Avolon Agrees Memorandum of Understanding to Order 20 Airbus A330neo Aircraft
- Converts 50 A320neos on order to larger A321neo model
Avolon, the international aircraft leasing company, has today signed a memorandum of understanding with Airbus at the Paris Air Show to order 20 Airbus A330neo aircraft. The new aircraft are scheduled to be delivered between 2026 and 2028.
Avolon was a launch customer for the A330neo programme in 2014 and has fully placed its current widebody order book. The A330neo has a range of over 13,300km (7,200 nautical miles) and 25% lower fuel consumption and CO2 emissions compared to previous generation aircraft.
This agreement will also see 50 A320neo aircraft Avolon has on order with Airbus converted to the larger A321neo model.
Andy Cronin, CEO of Avolon, commented:
"We have been a strong supporter of the A330neo programme since its launch and, with our existing widebody orderbook fully placed, we are now locking in future growth in a supply constrained environment. Our expanded delivery pipeline allows us to offer our customers the A330neo's range and reduced emissions, supporting their evolving fleet needs. Our recent aircraft orders and commitments reflect our confidence in the long-term growth trajectory of the aviation sector, which is outlined in our recent World Fleet Forecast projecting that the global passenger fleet will almost double by 2042."
Christian Scherer, Chief Commercial Officer and Head of International at Airbus commented:
""It's fantastic to see Avolon once again commit additional investment in the A330neo aircraft and lead the lessor market reordering widebody aircraft. Avolon's vision and timing could not be better with this commitment for a further 20 aircraft to its portfolio. Avolon will benefit from the strong wave of growth and replacements that we currently observe across all markets."
ENDS
About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore and Hong Kong, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems Limited, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges ((TSE: 8591, NYSE:IX). Avolon is a global leader in aircraft leasing with an owned, managed and committed fleet, as of 31 March 2023 of 830 aircraft. www.avolon.aero
About Airbus
Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide the most efficient and technologically-advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus offers the most modern and fuel-efficient airliners. Airbus is also a European leader in defence and security and one of the world's leading space businesses. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
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