Avolon commits to buy 15 Airbus A320neo aircraft
Order valued at US$1.4 billion
Committed fleet now stands at 150 aircraft
Farnborough, Dublin, Toulouse | 12 July, 2012: Avolon, the international aircraft leasing company, and Airbus today announce a commitment to buy 15 Airbus A320neo aircraft. The latest order brings Avolon’s committed fleet to 150 aircraft.
The 15 Airbus A320neo aircraft are valued at US$1.4 billion at current list prices.
- 15 Airbus A320neo aircraft valued at US$1.4 billion at list prices
- Committed fleet, excluding recent commitments, valued at US$4.9 billion
- Committed fleet now stands at 150 aircraft
Avolon invests exclusively in modern, fuel-efficient aircraft with the ability to retain the highest residual values over the long-term. Having a forward delivery stream of high-quality new aircraft as a proportion of its portfolio complements Avolon’s sale and leaseback and other financing capabilities and reflects Avolon’s market positioning as a full-service aircraft lessor. Avolon’s committed fleet now stands at 150 aircraft and is currently the youngest large lessor fleet in the world.
Avolon is owned by leading international investors: the Government of Singapore Investment Corporation, CVC Capital Partners, Cinven and Oak Hill Capital Partners.
The A320neo incorporates latest generation engines and large Sharklet wing-tip devices, which together with the new engines will deliver up to 15 percent in fuel savings. The commitment to purchase 15 A320neo is consistent with Avolon’s objective to play a significant role in financing the next generation of aircraft for its growing international customer base.
John Higgins, Avolon President and Chief Commercial Officer commented:
“Today’s commitment with Airbus for 15 A320neo aircraft reflects our ambition to play a leading role in financing the next generation of aircraft for the world’s airlines. We are seeing great interest in the superior performance metrics and fuel economy that the neo promises. As a full-service aircraft lessor, maintaining a forward order book of new generation aircraft, coupled with our sale and leaseback and other financing capabilities, is central to our service offering and balances portfolio risk.
We are delighted to strengthen our relationship with Airbus as we continue to expand our customer base and add new, high-performance aircraft models with strong value retention capabilities, such as the neo, to our fleet.”
John Leahy, Airbus Chief Operating Officer - Customers, commented:
“Avolon’s vision to concentrate on productive, fuel-efficient aircraft represents the market needs of tomorrow.The A320neo will allow Avolon to offer all the benefits of advanced technology to the aviation market.”