Avolon orders 100 Airbus, 40 Boeing jetliners

International leasing company Avolon has placed a firm order for 100 Airbus A321neo aircraft, taking its total order for the A321neo to 190 aircraft.

Avolon CEO Andy Cronin said, “Avolon now has 292 A320neo family aircraft on order, locking in our ability to support customers’ replacement and fleet expansion plans into the next decade. We welcome the opportunity to enhance the longstanding relationship we have with Airbus and build on the order we made for 20 A330neos earlier this year.”

“Avolon and its customers can benefit from the strong wave of growth and replacements being observed globally across all markets,” said Christian Scherer, Chief Commercial Officer and head of International at Airbus.

With this latest agreement, Avolon’s total firm order-tally directly from Airbus rises to 632 aircraft, and includes A320, A330, and A350 families.

The A321neo offers a 50% noise reduction and more than 20% fuel savings and CO₂ reduction compared to previous generation single-aisle aircraft.

Avolon orders Boeing 40 737 MAX jets
The Ireland-based lessor also intends to purchase 40 more Boeing 737-8 airplanes to expand the lessor's 737 MAX portfolio – consisting of 737-8 and 737-10 variants – to more than 110 jets. In June, Avolon ordered 40 737-8s.

The new order is subject to shareholder approval by Bohai Leasing Co. Ltd., Avolon's 70% shareholder, and will be posted to Boeing's Orders and Deliveries website when finalized.

"Today's order reflects our continuing optimism in the outlook for the aviation sector and strengthens our ability to meet customer needs in delivery slots out to 2030 when the availability of aircraft is very limited," Avolon CEO Cronin noted. "We have now committed to 80 new, fuel-efficient 737 MAX airplanes this year, supporting the transformation of our fleet to lower emissions airplanes."

The 737 MAX reduces fuel use and emissions by up to 20%. On average, each airplane will save up to 8 million pounds of CO₂ annually compared to airplanes it replaces.

"With long-term travel demand expected to remain strong, we are ready to support lessors looking to increase their single-aisle portfolios with fuel-efficient jets capable of operating across various route networks," said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. "

The 737-8, seating 162 to 210 passengers depending on configuration, has a range of up to 3,500nm.

Global aviation finance company Avolon works with 147 airlines in 65 countries, Avolon has an owned, managed, and committed fleet of 897 aircraft, as of Sept. 30, 2023.

“Today’s orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation,” Avolon CEO Cronin said. “We have committed to direct orders for 200 new, fuel-efficient aircraft this year, supporting the transformation of our fleet to lower emissions aircraft. The scale of our orderbook reflects the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and the longstanding relationships we have with both Airbus and Boeing.”