Check Didn't Hit The Bank Until New Year

Dublin-based aircraft lessor AWAS has signed a firm contract for 75 A320 Family aircraft, bringing its Airbus portfolio to a total of 145 planes, comprising single aisle and long-range aircraft.

The order marks the first new order for Airbus in 2008 -- meaning it won't count towards its 2007 sales total, or potentially aid the European planemaker in surpassing American rival Boeing for top sales honors. As ANN reported last week, Boeing announced net orders of 1,413 planes in 2007... and Airbus is expected to come very close, or even surpass, that number when its figures are announced next week.

The AWAS order was signed December 22, Airbus sales guru John Leahy told The Wall Street Journal, but the initial payment didn't hit the bank until this month... meaning the order will count towards Airbus' 2008 numbers.

The planes are valued at $6.9 billion based on list prices, and includes options on 25 additional frames. It's likely AWAS received a big price break for the volume deal.

The third-largest aircraft leasing company in the world, AWAS has a diversified selection of commercial aircraft that includes a mix of Airbus and Boeing planes. AWAS also signed a contract for 31 Boeing 737-800s last month.

"This transaction represents a natural extension of the new aircraft order stream that we acquired in 2007 through the acquisition of Pegasus Aviation Finance Company," said Franklin L. Pray, AWAS President and CEO. "Consistent with our long-term strategy, this deal further diversifies our fleet and allows AWAS to meet current and future demand from our customers for highly fuel efficient and environmentally friendly aircraft," he added.

"Having AWAS, one of the most respected and leading aircraft operating lease enterprises, expanding its portfolio with A320 Family aircraft, confirms that this aircraft family continues to be very much in demand and meets current and future market needs," said Leahy. "The technological leadership, the superior, larger and more comfortable cabin as well as the increased storage volume contribute to making it the benchmark single-aisle aircraft family."

FMI: www.airbus.com, www.awas.com