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Avolon Signs Memorandum of Understanding for 20 Airbus A330neos

The international aircraft lessor Avolon has today signed a Memorandum of Understanding (MoU) with Airbus for the purchase of 20 A330-900s.

Avolon Airbus A330neo Rendering - Courtesy Airbus

On Wednesday (June 21, 2023), from the Paris Air Show, Airbus announced that Avolon, the international leasing company, has signed a Memorandum of Understanding (MoU) to order 20 Airbus A330-900s. Avolon currently has a fleet of 616 owned, managed and committed aircraft, including 55 A330neos, 208 A320ceos, 285 A320neos, 51 A330ceos and 17 A350s. The Airbus A330neo features the award-winning Airspace cabin with more individual space, larger overhead bins, a new lighting system and access to the latest inflight entertainment (IFE) and connectivity systems.

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

“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 to support 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.”

Airbus’ Chief Commercial Officer and Head of Airbus International, Christian Scherer, added,

“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.”

Airbus’ latest widebody aircraft, the A330neo is powered by the newest generation Rolls-Royce Trent 7000 engines. The aircraft is capable of flying nonstop 7,200 nautical miles (13,300 km). As of May 31, 2023, the A330 Family had accumulated 1,775 firm orders from 130 customers worldwide, making it the world’s most popular widebody aircraft.

Headquartered in Ireland, Avolon is a major international provider of aircraft leasing and lease management services. The company 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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