flypop Signs Multiple Airbus A330-300 Lease Deal With Avolon
flypop has signed a multiple aircraft lease deal for Airbus A330-300s with Avolon, the world’s third largest aircraft lessor. The carrier had been in discussions with a variety of leasing companies, but Avolon provided the best terms and a pipeline of aircraft through 2023.
On Monday (April 12, 2020), flypop announced that they have signed a multiple aircraft lease deal for Airbus A330-300s with Avolon, the world’s third largest aircraft lessor. Although the airline had been in discussions with several leasing companies, Avolon offered the most competitive rate and a pipeline of aircraft through 2023. In Monday’s announcement, flypop’s CEO & Principal, (Nino) Navdip Singh Judge, said,
“As a twin-engine double-aisle wide-body that can carry over 400 passengers, the A330-300 aircraft will deliver everything we want to offer our flypop passengers, especially the lowest seat prices to India. With this lease deal we have been able to submit our AOC license application to the UK Civil Aviation Authority and expect our first flights to commence by October. And many thanks to the UK Government's Future Fund for its financial assistance, which has enabled us to raise further funding. Increased flight connectivity, especially on new routes, will create much needed economic benefits for both the UK and India.”
Also commenting on the new leasing partnership, Avolon’s Senior Vice President – Marketing (Europe, the Middle East and Africa), Mr. Martyn Lewis, added,
“We look forward to working with flypop on its exciting imminent launch of flights between the UK and India. We will work with flypop on its future growth strategy and expansion of routes and provide further aircraft as required. At launch, flypop will commence operations with one aircraft and plans to add an extra aircraft every six months. It’s not every day we help launch a new British long-haul scheduled carrier!”
Further commenting on the state of the industry and the airline’s imminent launch, flypop’s Senior Operations Advisor and Board Member, Charlie Clifton, said,
“The incumbents have been badly wounded after 18 months without any revenue but plenty of costs and debt. flypop, on the other hand has avoided any exposure to the pandemic and consequently is in the unique and fortunate position to extract maximum advantage from the lower costs resulting from the crisis. flypop’s cost of entry is much lower now than it would have been pre-Covid-19. Low fares always stimulate greater demand. The sector is currently on the floor, but the market will return strongly.”
flypop’s history started back in 2003 when (Nino) Navdip Singh Judge became frustrated by the high cost and lack of direct flights to visit his family in Ludhiana, India. However, at that time the air services agreement between the UK and India made it impossible to obtain slots at Heathrow, or even gain permission to fly to India’s “second cities.” A decade later, the environment had changed, and the dream was revived when a new service between the two countries allowed for certain number of weekly flights to India’s second cities.
After working with Air Asia Group’s CEO, Tony Fernandes, for five years at the Lotus F1 Team, Nino realized that the Air Asia X business model for low-cost long haul flights was ideally suited for flights between Europe and South Asia. Now, starting in October 2021, flypop will provide an affordable and convenient option for nearly three million UK nationals of the Indian diaspora, who want to visit friends and families in India.