Aircraft deliveries are scheduled from 2029, with all aircraft powered by CFM LEAP-1A engines
BOC Aviation has signed agreements with Avianca to support the airline’s long-term fleet expansion by adding 12 Airbus A320neo aircraft.
Under the transaction, BOC Aviation will purchase the aircraft from Airbus and lease them to Avianca long-term. Deliveries are scheduled for 2029, with all 12 aircraft to be powered by CFM LEAP-1A engines.
The transaction will add the latest-generation A320neo aircraft to BOC Aviation’s portfolio while supporting Avianca’s plans to expand and modernise its fleet.
Supporting Avianca’s growth
BOC Aviation said the agreement builds on its existing relationship with Avianca and will help support the airline’s growing operations. “As aircraft production ramps up, pre-delivery payment financing is becoming increasingly important for our airline customers,” said Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation.
He added that BOC Aviation’s access to liquidity allows it to support transactions of this nature while continuing to expand its fleet of newer-generation A320neo aircraft.
For Avianca, the aircraft will support the long-term fleet strategy of its parent company, Abra Group, and its growth across Latin America.
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Fuel efficiency and operational efficiency
The Airbus A320neo is designed to deliver improved fuel efficiency compared with previous-generation aircraft, while the CFM LEAP-1A engine forms part of the aircraft’s next-generation propulsion offering.
Francisco Raddatz, Chief Procurement Officer, Abra Group, said access to modern and fuel-efficient aircraft is important for strengthening connectivity and improving operational efficiency across the region.
The transaction also highlights the continuing role of lessors in helping airlines secure new-generation aircraft as manufacturers work to increase production and airlines plan for long-term fleet renewal.
With deliveries beginning in 2029, the 12 A320neos will form part of Avianca’s longer-term fleet planning as the airline continues to develop its network across Latin America.
