Summary
- Irish lessor Avolon has firmed up its order for 20 Airbus A330neo aircraft to satisfy the increasing demand for more efficient widebody planes.
- Avolon has over 500 aircraft in its fleet and nearly 300 more aircraft to be delivered in the approaching years.
- Avolon’s extensive aircraft portfolio positions it well to satisfy future customer demand within the growing aviation industry.
Irish aircraft lessor Avolon has firmed up its order for 20 Airbus A330neo widebody Aircraft, for which the lessor had signed a Memorandum of Understanding (MoU) throughout the Paris Airshow in June. The lessor has also confirmed that it’s swapping 50 of its Airbus A320s for the larger Airbus A231 aircraft.
The main points
Avalon, being a number one aviation finance company, recognizes that there are over 1,400 of the older A330ceos in operation worldwide today and that soon, operators could be looking to exchange the sort with newer and more efficient jets.
Predicting this shift with operators, Avolon, throughout the Paris Air Show, signed a MoU for 20 of the newer A330-900s, which has now been firmed up by the lessor. The lessor has at all times remained committed to the aircraft type; back in 2014, Avolon was also a launch customer for the A330neo program and has enjoyed strong demand for the sort by its customers.
Photo: Airbus
The recognition of the neo variants is primarily since the aircraft offers an increased range of over 13,300 km (7,200 nautical miles) and a 25% lower fuel consumption and carbon dioxide emissions.
CEO of Avolon, Andy Cronin, commented,
“We see a high level of widebody demand throughout the delivery window for these aircraft. With our existing widebody pipeline already placed, these recent aircraft will support our future growth plans and permit us to offer options for carriers looking to exchange older A330ceo aircraft with the more fuel efficient A330neo. The order builds on our strong relationship with Airbus as a launch customer for the A330neo, and our position because the leading lessor for this aircraft type.”
These recent aircraft are set to be delivered between 2025 and 2028. Moreover, this agreement also firms up Avolon’s order for 50 Airbus A320neo aircraft, which shall be converted to the larger Airbus A321neo models, which can also be a particularly popular aircraft type worldwide.
High demand
Working with 149 airlines across 65 countries, Avolon sees a variety of demand for various aircraft types from customers worldwide. Thus, Avolon ensures there are at all times a variety of aircraft type available inside its portfolio for its customers to make use of.
Photo: Boeing
As such, throughout the Paris Air Show, the lessor had also placed a substantial order for 40 of the highly popular Boeing 737 MAX 8 aircraft. These recent aircraft will complement the lessor’s existing fleet of over 250 Boeing aircraft.
Avolon also predicts that the fleet of business jets worldwide will double over the following 20 years on account of the expansion of the aviation industry. The lessor states that by 2042, around 44,300 recent aircraft shall be delivered, while roughly 21,600 aircraft shall be phased out of passenger service by either being retired or converted for cargo operations.
With over 500 narrowbody and widebody aircraft already in Avolon’s fleet portfolio and nearly 300 more aircraft yet to be delivered by Airbus, Boeing, and Embraer, the lessor is well-equipped to make sure it will possibly supply quite a lot of aircraft for its customers in the long run, because the aviation industry continues its growth.
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