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Avolon Orders 100 More Airbus A321neos and 40 Additional Boeing 737-8 MAX Jets

International aircraft lessor Avolon has ordered a further 100 Airbus A321neos, taking their total order for the type to 190 aircraft.  The company has also ordered 40 more Boeing 737-8 MAX jets, expanding their MAX backlog to over 110 airplanes.


Avolon Airbus A321neo Rendering - Courtesy Airbus

On Tuesday (December 12, 2023), Airbus announced that international aircraft lessor Avolon has placed an order for a further 100 A321neos, taking their total order for the type to 190 aircraft.  With the latest agreement, Avolon’s firm order total direct from Airbus grows to 632 aircraft, including A320, A330 and A350 Family aircraft.  As previously announced, in September the lessor firmed an order for 20 Airbus A330neos to meet growing widebody demand. 


In Tuesday’s announcement, Avolon’s CEO, Andy Cronin, said,


“This order strengthens our delivery pipeline and reflects our confidence in the long-term growth outlook for aviation.  Avolon now has 292 A320neo family aircraft on order, locking in our ability to support customers’ replacement and fleet expansion plans into the next decade.  This order reflects the strength of Avolon’s balance sheet and our proven ability to execute transactions swiftly.  We welcome the opportunity to enhance the longstanding relationship we have with Airbus and build on the order we made for 20 A330neos earlier this year.”


Also commenting on the incremental A321neo order, Airbus’ Chief Commercial Officer and Head of Airbus International, Christian Scherer, added,


“This investment in the A321neo is a testimony by one of the world’s leading lessors to the unprecedented value the world’s most versatile single aisle aircraft generates for its lessor and operator base. It points to Avolon’s vision to secure slots longer term for its strong airline customer portfolio with the right aircraft for the future.  This way Avolon and its customers can benefit from the strong wave of growth and replacements being observed globally across all markets.”


The largest member of the Airbus A320neo Family, the A321neo offers unparalleled range and performance.  With the combination of new generation engines and Sharklets, the aircraft delivers a 50 percent noise footprint reduction and over 20 percent in fuel savings and CO2 reduction compared to previous generation single-aisle aircraft.  Airbus has received over 5,600 A321neo orders to date from more than 100 customers worldwide.


Avolon Boeing 737-8 MAX Rendering - Courtesy Boeing/PRNewswire

In a separate press release today (December 12, 2023), Boeing announced that Avolon has also placed an incremental order for 40 more Boeing 737-8 MAX jets.  This expands the Irish aircraft lessor’s MAX portfolio to over 110 jets, including 737-8 and 737-10 variants.  Avolon previously placed an order for 30 737-8s in June 2023.  The new order remains subject to approval by Bohai Leasing Company, Ltd., Avolon’s main shareholder, and will be posted to Boeing’s Orders and Deliveries website once finalized. 


In today’s 737-8 MAX order announcement, Avolon’s CEO, Andy Cronin, said,


“Today’s order reflects our continuing optimism in the outlook for the aviation sector and strengthens our ability to meet customer needs in delivery slots out to 2030 when the availability of aircraft is very limited.  We have now committed to 80 new, fuel-efficient 737 MAX airplanes this year, supporting the transformation of our fleet to lower emissions airplanes.  Avolon has been a long-standing supporter of the 737 MAX platform, delivering the 1000th 737 MAX produced earlier this year and the first ever 737 MAX in 2017.  It is a pleasure to partner again with Boeing on this new order.”

 

Also commenting on the incremental 737-8 order, Boeing’s SVP – Commercial Sales and Marketing, Brad McMullen, added,

 

“With long-term travel demand expected to remain strong, we are ready to support lessors looking to increase their single-aisle portfolios with fuel-efficient jets capable of operating across various route networks.  Avolon continues to be a significant and much valued customer for the 737 program.  This repeat order, in the same year, demonstrates its confidence in the 737-8 and the value the airplane brings to its customers.”

 

The Boeing 737-8 MAX seats 162-210 passengers and offers a range of up to 3,500 nautical miles, with the ability to operate profitably on short and medium-haul routes.  The aircraft offers a 20 percent reduction in fuel use and emissions compared to previous generation models, saving on average eight million pounds of CO2 annually. 


Headquartered in Ireland, Avolon is a major international provider of aircraft leasing and lease management services, and works with 147 airlines in 65 countries.  As of September 30, 2023, the company had an owned, managed and committed fleet of 897 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, Boeing, Avolon

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