Irish-based lessor Avolon is expanding its single-aisle portfolio with an order for 140 aircraft, including 100 Airbus A321neos and 40 Boeing 737 Max 8 jets.
The company says the agreement will take its delivery stream out to 2032. Avolon has not specifically identified the 737 Max variants covered by the deal, but Boeing confirms they are Max 8s.
It brings to 200 the number of aircraft from the two airframers for which it has signed this year.
Avolon agreed earlier in the year to take 20 A330neos and 40 737 Max 8 aircraft.
It states that the new order will take its owned, managed and committed fleet into four figures – a total of 1,037 aircraft.
All 737 Max jets are powered by CFM International Leap-1B engines. Avolon has not disclosed an engine selection for the A321neos.
Chief executive Andy Cronin says the orders – which are still formally subject to shareholder approval from controlling parent Bohai Leasing – will “strengthen our delivery pipeline”.
He adds that the agreement illustrates the lessor’s “confidence” in the long-term outlook for the aviation sector.
“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,” says Cronin.
It particularly reinforces the broader popularity of the A321neo.
“This investment in the A321neo is a testimony by one of the world’s leading lessors to the unprecedented value the world’s most versatile single aisle aircraft generates for its lessor and operator base,” says Airbus chief commercial officer Christian Scherer.
“It points to Avolon’s vision to secure slots longer term for its strong airline customer portfolio with the right aircraft for the future.”
Avolon will have 292 A320neo-family jets on order as a result of the new agreement which, Cronin says, enables the company to “lock in” the ability to support fleet replacement and expansion into the next decade.
Boeing senior vice-president of commercial sales and marketing Brad McMullen says the repeat order confirms Avolon as a ”significant and much-valued customer for the 737 programme”.
