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DALLAS — International leasing company Avolon has placed a firm order for 100 A321neo aircraft and announced its intention to purchase an additional 40 737-8 airplanes from Boeing.
The new Airbus order brings Avolon's total order for the A321neo to 190 aircraft. This agreement ensures that Avolon's delivery pipeline is secured for the world's preferred single-aisle family of aircraft. Avolon's firm order tally directly from Airbus now stands at 632 aircraft, including the A320, A330, and A350 families. In addition to this, Avolon has also ordered 20 A330neo aircraft in September to meet the growing demand for widebody aircraft globally.
Furthermore, with the new Boeing purchase, Avolon will expand its 737 MAX portfolio to more than 110 jets. This portfolio consists of both the 737-8 and 737-10 variants. In June, Avolon had already ordered 40 737-8s. The finalization of this new order is subject to shareholder approval by Bohai Leasing Company, Avolon's main shareholder, and will be posted on Boeing's Orders and Deliveries website once approved.
The Boeing 737 MAX offers Avolon's customers greater flexibility across their network while reducing fuel consumption and emissions by up to 20%. Each airplane is estimated to save up to 8 million pounds of CO2 annually compared to the airplanes it replaces.
As of September 30, 2023, Avolon collaborates with 147 airlines across 65 countries, and their fleet consists of 897 aircraft that are either owned, managed, or committed.
Comments from Avolon CEO
Andy Cronin, CEO of Avolon, expressed via an Airbus press release that the A321neo order significantly strengthens its delivery pipeline and demonstrates its confidence in the long-term growth prospects of the aviation industry. With a total of 292 A320neo family aircraft on order, Avolon is well-prepared to support its customers' fleet expansion and replacement plans well into the next decade, said Cronin, adding that this order showcases the financial stability of Avolon and its ability to execute transactions.
With this new Airbus order, Avolon further enhances its longstanding partnership with the European manufacturer, building upon its previous order for 20 A330neos earlier this year.
The CEO also stated today in a separate press release from Boeing that today's 737 MAX order reinforces their ability to meet customer demands for delivery slots up to 2030, a period when aircraft availability is expected to be highly limited. Avolon has now committed to acquiring 80 new, fuel-efficient 737 MAX airplanes this year, which aligns with their goal of transitioning their fleet to lower-emission aircraft.
Avolon has been a strong supporter of the 737 MAX platform, having delivered the 1000th 737 MAX earlier this year and the first-ever 737 MAX in 2017. They are delighted to partner with Boeing once again for this new order.
Comments from Airbus, Boeing Officials
Christian Scherer, Chief Commercial Officer and Head of International at Airbus, highlighted that Avolon's investment in the A321neo demonstrates their recognition of the unparalleled value that this versatile single-aisle aircraft brings to lessors and operators. Scherer adds that this investment signifies Avolon's commitment to securing slots for its esteemed airline customer portfolio with the most suitable aircraft for the future. By doing so, Avolon and its customers can take advantage of the robust growth and replacement trends witnessed across global markets.
Brad McMullen, Senior Vice President of Commercial Sales and Marketing at Boeing, expressed that, with the anticipation of long-term travel demand remaining robust, Boeing is prepared to assist lessors in expanding their portfolios of single-aisle aircraft with fuel-efficient jets capable of operating across various route networks.
McMullen also noted that Avolon continued to be an important and highly valued customer for the Boeing 737 program, adding that this repeat order in the same year is a testament to Avalon's confidence in the 737-8 and the value it brings to their customers.
Featured image: Avolon's Airbus A321neo and Boeing 737 MAX. Render: Airbus/Boeing/Airways
https://airwaysmag.com/avolon-finalizes-a330neo-order/
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