Avolon, the international leasing powerhouse, is making significant strides in expanding its aircraft portfolio with recent firm orders for Boeing and Airbus aircraft. The Ireland-based lessor has inked a deal with Boeing to acquire an additional 40 737-8 airplanes, further augmenting its 737 MAX portfolio. This expansion, which includes both 737-8 and 737-10 variants, will bring Avolon’s 737 MAX fleet to over 110 jets. Notably, Avolon had previously placed an order for 40 737-8s in June, emphasising its confidence in Boeing’s aircraft line-up.
In tandem with its Boeing commitment, Avolon has strengthened its partnership with Airbus by signing a firm order for 100 A321neo aircraft. This strategic move takes the lessor’s total order for the A321neo to 190 aircraft, securing its delivery pipeline for the single-aisle family.
Andy Cronin, CEO of Avolon, commented on these developments, stating, “This comprehensive approach to aircraft acquisitions reflects our confidence in the long-term growth outlook for aviation. Avolon now has 292 A320neo-family aircraft on order, positioning us to support customers’ replacement and fleet expansion plans into the next decade.”
The orders from both Boeing and Airbus showcase the lessor’s financial strength and its ability to swiftly execute transactions. The Boeing order for 40 737-8 airplanes is subject to shareholder approval by Bohai Leasing Co, Ltd, Avolon’s main shareholder. Once finalised, the details of this order will be posted to Boeing’s Orders and Deliveries website.
Christian Scherer, Chief Commercial Officer and Head of International at Airbus, praised Avolon’s investment in the A321neo, highlighting its strategic vision to secure aircraft for its airline customer portfolio in anticipation of future growth and replacements on a global scale.