Avolon has signed a deal for 20 new Airbus A330neo aircraft with delivery slated between 2025 and 2028 including shifting the existing A320neo order converted to the larger A321neo model.
Avolon, a prominent global aviation finance company, has confirmed a binding agreement for the purchase of 20 new Airbus A330neo aircraft. This order formalizes a memorandum of understanding initially signed at the Paris Airshow in June 2023. The new aircraft are slated for delivery between 2025 and 2028. Avolon’s agreement with Airbus also includes a notable shift in its A320neo order. Specifically, 50 of the A320neo aircraft Avolon has on order will be converted to the larger A321neo model, reflecting the growing demand for this variant in the aviation industry.
Avolon holds the distinction of being a launch customer for the A330neo program since 2014. The company has been experiencing robust demand from customers for additional widebody aircraft, and this order comes as a strategic move to meet this demand. Notably, Avolon has fully placed its current order book, underlining the market’s appetite for these modern widebody aircraft.
Andy Cronin, CEO, Avolon said, “We see a high level of widebody demand within the delivery window for these aircraft. With our existing widebody pipeline already placed, these new aircraft will support our future growth plans and allow us to provide options for carriers looking to replace 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 as the leading lessor for this aircraft type.”
The A330neo is an upgraded version of the popular A330ceo aircraft, boasting several key enhancements. It offers an extended range of over 13,300 kilometers (7,200 nautical miles) and achieves a remarkable 25% reduction in fuel consumption and CO2 emissions compared to its predecessor.
Christian Scherer, Chief Commercial Officer and Head of International, Airbus said, “It’s fantastic to see Avolon once again commit additional investment in the A330neo aircraft and lead the lessor market reordering widebody aircraft. Avolon’s vision and timing could not be better with this commitment for a further 20 aircraft to its portfolio. Avolon will benefit from the strong wave of growth and replacements that we currently observe across all markets, and we welcome our continuing partnership with them.”
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This order for 20 A330neo aircraft further solidifies Avolon’s position in the aviation finance sector and reflects the company’s confidence in the future of widebody aircraft, particularly those offering enhanced fuel efficiency and operational capabilities. It underscores the aviation industry’s ongoing drive to modernize fleets and reduce environmental impact through the adoption of more eco-friendly aircraft.
