The most recent Avolon Airbus A320neo aircraft, concluding a sale and leaseback transaction initiated in May 2022, departed for Flynas from Airbus’s delivery center in Toulouse.
Avolon, a leading global aviation finance company has successfully completed the delivery of five new Airbus A320neos to Flynas, a prominent Middle Eastern low-cost carrier. The most recent aircraft, concluding a sale and leaseback transaction initiated in May 2022, departed from Airbus’s delivery center in Toulouse. The A320neo stands out as the world’s best-selling short and medium-haul aircraft type, offering a remarkable 15% reduction in fuel burn and CO2 emissions compared to previous technology aircraft. Avolon’s current leasing portfolio with Flynas comprises a total of 11 aircraft, including six A320neos, three A320ceos, and two A330-300s.
Flynas, with this recent addition, now boasts a fleet of 54 aircraft, with a significant portion comprising the fuel-efficient A320neo. This fleet expansion supports Flynas’s robust operations, encompassing over 1,500 flights per week to more than 70 destinations.
Paul Geaney, President and Chief Commercial Officer, Avolon said, “This transaction with Flynas expands our relationship with one of the Middle East’s fastest growing airlines. We are seeing a high level of sale and leaseback opportunities in the market and we are benefiting from our ability to execute at scale. The leasing industry is enjoying continued high demand from customers which we expect to be the case for the foreseeable future.”
Avolon, as a global aviation finance company, plays a pivotal role in connecting capital with customers, contributing to the evolution of aviation and the associated economic and social benefits of global travel. The company is distinguished by its profound customer relationships, collaborative team approach, and efficient execution. With a strategic long-term investment perspective, Avolon manages risk diversification and capital efficiency, maintaining a robust balance sheet.
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Engaging with 147 airlines in 65 countries, Avolon boasts a substantial fleet of 897 aircraft, as of September 30, 2023, comprising owned, managed, and committed assets. Avolon’s success in navigating complex transactions, as demonstrated in its recent dealings with Flynas, solidifies its position as a key player in the dynamic aviation finance landscape.
