Deal Moves Forward Following Shareholder Approval

Global aviation finance firm Avolon announced that its July order for 90 Airbus aircraft has been approved by shareholders of Bohai Leasing Co. Ltd., Avolon’s 70% shareholder. The approval makes the order unconditional and enabling it to proceed to finalization.

The order is for 75 A321neo and 15 A330neo aircraft, and raises Avolon’s commitments to 413 Airbuses with this latest tranche slated to be delivered into 2033.

Avolon has placed multiple orders from Airbus consisting entirely of the A320neo family and A330neo new technology aircraft. This latest order also includes the right to purchase an additional 25 A321neo and 15 A330neo aircraft.

Avolon was a launch customer in 2014 for the A330neo program and currently has 33 of the widebodies in its fleet. This order will bring Avolon’s total book to 55 A330neos. The aircraft has a range of over 13,300 km / 7,180 nm.

When Avolon first placed the order in July, CEO Andy Cronin said, “This order demonstrates our strong confidence in the long-term demand for new aircraft. Our scale and balance sheet position us to support our airline customers’ expansion and replacement needs into the next decade.”

“Both the A321neo and A330neo are in high demand, and we expect this to continue given the long-term growth trajectory for the aviation sector. We are delighted to be expanding and extending our long-term partnership with Airbus with this order,” he added.

FMI:  www.avolon.aero/