Avolon Commits Over $5 Billion to new engines, aiming for 75% fleet efficiency by 2025.
Avolon has placed significant orders for 310 new engines. These engines will power 155 Airbus A320neo family aircraft in its order book. The company has ordered 160 GTF engines from Pratt & Whitney. In addition, Avolon has ordered 150 LEAP-1A engines from CFM International. Announced today at the Farnborough Airshow, the combined orders are valued at over US$5 billion based on current list prices. Moreover, the agreement includes options for acquiring an additional 160 Pratt & Whitney engines and 150 CFM International engines. This deal marks Avolon’s largest engine commitment to date.
Andy Cronin, CEO Avolon, said, “These engines will power our orderbook of A320neo family aircraft and put us in an excellent position to service our customers’ narrowbody requirements out to 2030 and beyond. Engine innovation has been one of the key tools to lower emissions and support the industry’s decarbonisation journey. We are delighted to be working with both Pratt & Whitney and CFM International, and excited about leveraging their engines to support the transition of our fleet to more fuel-efficient technology.”
The new engine types contribute to reducing carbon emissions by delivering at least 15% lower fuel consumption compared to older technologies. Additionally, they offer reduced noise levels. Transitioning to these advanced engines represents a significant near-term action to lower aviation emissions. Consequently, Avolon is committed to having over 75% of its fleet as the most fuel-efficient aircraft by the end of 2025.
Furthermore, the evolution of Avolon’s fleet will be supported by deliveries of A320neo family aircraft extending to 2032. This long-term strategy will continue to drive emissions reduction and enhance fuel efficiency.
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Currently, Avolon operates 115 A320neo family aircraft in its delivered and managed fleet. Of these, 39 are powered by Pratt & Whitney engines, while 76 are equipped with CFM International engines. Following an order for 100 A321neo aircraft placed in December 2023, Avolon’s order book now includes 279 A320neo family aircraft.
Q. – Which engine models has Avolon ordered?
A. – 160 GTF engines and 150 LEAP-1A engines.
Q. – What is the total value of the orders?
A. – Over US$5 billion.
