Irish aircraft lessor Avolon has ordered 250 new planes from Boeing and Airbus, with the contract including an option for another 100 machines from the European manufacturer. The deal includes 140 Boeing 737 MAX, 75 Airbus A320neo and 35 Airbus A330neo.
After the order, the total number of aircraft in Avolon's firm commitments reaches 749. The company owns 561 aircraft and is the third largest aircraft lessor in the world, Reuters reported. The additional 100 Airbus aircraft are included as an option, but their specific models have not yet been specified.
Approval expected by the end of October
Avolon is based in Dublin and is a subsidiary of China's Bohai Leasing, which owns 70% of the company. The orders are subject to approval by Bohai Leasing's shareholders, with a decision expected before the end of October 2026.
The deal expands the long-term portfolio of aircraft that Avolon will provide to airlines through leasing. It includes both narrow-body models for short and medium-haul routes and the wide-body A330neo for long-haul flights.
The company also reports activity on the secondary market
In the third quarter, Avolon acquired 10 aircraft and sold 29. By the end of September, the sale of another 112 aircraft was agreed. The company has placed 28 aircraft from its existing commitments and has entered into 84 leases, extensions and modifications.
“We continue to see strong demand for next-generation aircraft, which is reflected in our placement and trading activity during the quarter“, said Avolon CEO Andy Cronin.
He said the new orders will help the company meet the future needs of airlines as they renew and expand their fleets with newer aircraft.
Sources: reuters.com, rte.ie, airlinergs.com