Avolon has ordered 100 additional aircraft, taking its yearly orderbook from the two major airframe manufcturers to 200.
The latest additions to Avolon’s inventory include 100 A321neo and 40 737 MAX aircraft, scheduled for delivery up until 2032; augmenting earlier orders for 20 A330neos in September and 40 737 MAXs in June. This orderbook expansion now takes Avolon’s entire owned, managed and committed fleet from 897 (as of 30 September 2023) to 1,037 aircraft.
"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,” commented CEO of Avolon Andy Cronin. “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”.
Avolon now has 292 320neo family aircraft on order, takings its firm-order tally directly from Airbus to 632 aircraft. “This investment in the A321neo by one of the world’s leading lessors… points to Avolon’s vision to secure slots longer term for its strong airline customer portfolio with the right aircraft for the future,” noted Christian Scherer, chief commercial officer and head of international at Airbus. He also highlighted the deal will allow Avolon and its customers to “benefit from the strong wave of growth and replacements being observed globally across all markets”.
Additionally, over 90% of the nearly 130 orders and commitments placed for Boeing aircraft in 2023 were for the 737-8. “This repeat order, in the same year, demonstrates [Avolon’s] confidence in the 737-8 and the value the airplane brings to its customers,” highlighted Brad McMullen, senior vice president of commercial sales and marketing at Boeing. Having delivered both the first 737 MAX back in 2017 and the 1,000th model produced earlier this year, “Avolon has been a long-standing supporter of the 737 MAX platform,” added Cronin.
Both orders are binding contracts subject only to approval by shareholders of Bohai Leasing Co. Ltd, Avolon’s 70% shareholder, which is anticipated before the end of the year.