Dublin-based aircraft leasing company Avolon has recently declared its intention to acquire 140 new aircraft from manufacturing behemoths Boeing and Airbus, effectively increasing its total orders to a staggering 200 aircraft slated for delivery by 2032.
Reported by Reuters, the deal, which carries an estimated listing price of $18 billion, saw discounts applied due to the bulk order. This substantial acquisition underscores Avolon’s robust confidence and favourable long-term outlook for the aviation industry, in addition to its anticipated growth potential.
CEO of Avolon, Andy Cronin, underscored the enduring and successful association between the company and both Airbus and Boeing. Cronin stated, “We have confirmed direct orders for 200 new, fuel-efficient aircraft this year, supporting the transition of our fleet to lower emissions aircraft. The magnitude of our order book attests to the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and our long-term associations with both Airbus and Boeing.”
The recent transaction involves the procurement of 100 A321neo aircraft from Airbus and 40 737-MAX aircraft from Boeing. This marks a significant augmentation to Avolon’s fleet, with the company harbouring great confidence in the distinctive quality of their Company Profiles. Notably, the agreement elevates Avolon’s aggregate order of the A321neo to 190 aircraft, underscoring the company’s commitment to acquiring the most efficient and contemporary aircraft for its airline customer roster.
Christian Scherer, chief commercial officer at Airbus, expressed his sanguinity regarding the investment in the A321neo, noting that it exemplifies Avolon’s dedication to securing long-term slots for its robust airline customer base with the most suitable aircraft for the future. This strategic move positions Avolon and its clients to benefit from the anticipated global expansion and aircraft replacements across all markets.
The two orders, contingent upon approval by the shareholders of Bohai Leasing Co, Avolon’s 70% stakeholder, constitute legally binding agreements. This further reinforces the company’s standing as a foremost lessor and underscores its unwavering commitment to providing top-tier aircraft to its airline clientele.
In summary, Avolon’s substantial orders from Airbus and Boeing epitomize the company’s dedication to modernizing its fleet with the latest and most efficient aircraft. This strategic investment reflects the company’s confidence in the future of aviation and its adeptness in adjusting to the evolving demands of the industry.
Sources:
https://www.airport-technology.com/news/avolon-aircraft-orders-boeing-airbus/
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