Both Airbus and Boeing have received extended aircraft orders from global aviation finance company, Avolon.
Airbus confirmed on December 12, 2023, that the Irish-based lessor had ordered an extra 100 A321neo aircraft, bringing Avolon’s total order for the jet type to 190 aircraft.
And sharing the spoils, Boeing also confirmed on the same day that Avolon had ordered 40 more 737 MAX 8 jets, adding to the 40 737-8s announced in June 2023.
The orderbook expansion increases Avolon’s owned, managed and committed fleet from 897 on September 30, 2023, to 1037 aircraft.
“Today’s orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation. We have committed to direct orders for 200 new, fuel-efficient aircraft this year, supporting the transformation of our fleet to lower emissions aircraft. The scale of our orderbook reflects the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and the longstanding relationships we have with both Airbus and Boeing,” Andy Cronin, CEO of Avolon, said.
With this latest agreement, Avolon’s total firm order-tally directly from Airbus rises to 632 aircraft, and includes A320, A330 and A350 families. In September 2023, Avolon ordered 20 A330neo aircraft.
“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,” Christian Scherer, Chief Commercial Officer and Head of International at Airbus, said.
Boeing confirmed the new order is subject to shareholder approval by Bohai Leasing, Avolon’s main shareholder.
“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,” Brad McMullen, Boeing Senior Vice President of Commercial Sales and Marketing, said.