Airbus has today announced from the 2024 Farnborough International Airshow a new partnership with aircraft lessor Avolon to study the potential of hydrogen-powered aircraft. This marks the first collaboration of the Airbus ZEROe project with an aircraft lessor.
On Wednesday (July 24, 2024), from the 2024 Farnborough International Airshow (FIA), Airbus announced a new partnership with aircraft lessor Avolon to study the potential of hydrogen-powered aircraft. This is the very first collaboration between Airbus’ ZEROe Project and an aircraft leasing company. Together, the partners will investigate how future hydrogen-powered aircraft could be financed and commercialized, and how they could be supported by the leasing business model. Airbus is currently investing significant resources in the exploration of how the industry can introduce hydrogen-powered aircraft and how it will work on the ground with airports and airlines.
In Wednesday’s announcement, Avolon’s President and Chief Commercial Officer, Paul Geaney, said,
“Joining the ZEROe Project is another step in Avolon’s sustainability journey and we look forward to building on our long-standing partnership with Airbus to consider how the next generation of aircraft will be financed and commercialised. It will take a wide ecosystem of contributors to overcome the challenges of hydrogen powered commercial flight, and Airbus is playing a crucial role in bringing partners together. While we continue to focus on supporting our customers in modernising their fleets with lower emissions aircraft, it is also vital we look beyond that at what can further drive our industry’s decarbonisation.”
Also commenting on the new collaboration with Avolon, Airbus’ Vice President – ZEROe Project, Glenn Llewellyn, added,
“There is real value in bringing together industry players to help solve the challenges facing aviation. We know we can’t solve decarbonisation alone and welcome Avolon’s expertise and worldwide leadership in the aircraft leasing business. Working together to consider how the transition can be commercialised and financed for airline customers is crucial to success.”
Headquartered in Ireland, Avolon is a major international provider of aircraft leasing and lease management services, and works with 142 airlines in 63 countries. As of June 30, 2024, the company had an owned, managed and committed fleet of 1,029 aircraft. Avolon also has offices in the U.S., Dubai, Hong Kong and Singapore. Avolon is 70 percent owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange, and 30 percent owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation.
Source(s): Airbus, Avolon
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