Aviation Capital Group (ACG) has signed a definitive agreement with Avolon to acquire 20 aircraft.
This portfolio of aircraft includes 16 narrowbody jets, of which 12 are new technology, and four wide-body planes, all of which are new technology. The average age of the portfolio is approximately 4.1 years, and the average remaining lease term is 8.4 years.
“This acquisition with Avolon reflects ACG’s strategic focus on growth, commitment to invest in fuel-efficient new technology aircraft, and ability to transact at scale,” said Thomas Baker, CEO and president of ACG. “ACG will continue to seek out further scaled investment opportunities as we accelerate our growth momentum.”
The aircraft are on lease to 17 airlines across 16 countries, including six airlines that are new customers for ACG.
Ross O’Connor, chief financial officer at Avolon noted that the Dublin-based leasing firm is looking forward to working with ACG to complete these aircraft transfers in the coming months.
As of the end of 2024, ACG has an owned, managed and committed fleet of over 500 aircraft, leased to roughly 85 airlines in 45 countries.