Dublin, Ireland-based Avolon, the international aircraft leasing company, has announced that it has completed the delivery of its 100th Airbus A320neo. The recipient was Cebu Pacific and is the second A320neo delivered under an agreement signed earlier in 2023 for three new A320neos for the low-cost Philippine carrier. Once the third aircraft is delivered later this year, Avolon will have leased 12 aircraft to Cebu Pacific.
Avolon is on course to meet its target of having a fleet comprising 75% new-technology aircraft by 2025. Currently the lessor has a significant order book pipeline for the A320neo-family of aircraft (A320neo/A321neo), with commitments to acquire a further 184 of this aircraft type as of March 31, 2023. The A320neo delivers 20% fuel savings and CO2 reduction when compared to previous-generation Airbus aircraft.
Paul Geaney, President and Chief Commercial Officer, Avolon commented: “As one of the largest A320neo-family aircraft customers, today’s announcement marks an important milestone in our long-standing partnership with Airbus. We are also delighted to further strengthen our relationship with Cebu Pacific, supporting both the evolution of its fleet and sustainability objectives. It is great to see our customers in Asia increasing their fleet size to meet the high demand for travel in the region.”
Alex Reyes, Chief Strategy Officer, Cebu Pacific commented: “The delivery of this latest A320neo aircraft reflects our continued progress towards our goal of transitioning to a more fuel-efficient fleet. We are looking forward to completing this delivery order with Avolon, which will help further strengthening our position as one of Asia Pacific’s leading low-cost carriers.”
