21 June, 2023

Big orders from leasing giant Avolon at Paris Air Show....

Avolon orders 40 Boeing 737 MAX Jets
Converts 50 A320neos on order to larger A321neo model
Signs up for 20 Airbus A330neo aircraft. 

At the Paris Air Show on Wednesday, the international aircraft leasing giant Avolon has ordered 60 aircraft and converted a previous order to a larger type of plane. 

The firm has placed a firm order with Boeing for 40  737 MAX aeroplanes, the first order from the company since 2017. However, this isn't a completely new order, it was previously listed as unidentified on the Boeing Orders & Deliveries website with the announcement deliberately delayed to the air show to boost Boeing's publicity coverage at the show. 

Andy Cronin, CEO of Avolon said: "Today's announcement reaffirms our long-standing partnership with Boeing and our support for their 737 MAX program. We are confident in the long-term demand from our customers for the 737 MAX, and this order extends our delivery pipeline out to 2030," 

Stan Deal, president and CEO of Boeing Commercial Airplanes said: "This order demonstrates the popularity of the 737-8 among the leasing community and the demand they are seeing from their customers for this aeroplane model. Avolon has a long-standing relationship with the 737 MAX program and took delivery of the 1,000th 737 MAX last year. We look forward to building on this strong relationship with a key leasing partner as they grow their Boeing portfolio of aeroplanes."

Avolon has also signed a memorandum of understanding with Airbus at the Paris Air Show to order 20 Airbus A330neo aircraft. These new aircraft are scheduled to be delivered between 2026 and 2028.

Avolon was a launch customer for the A330neo programme in 2014 and has fully placed its current widebody order book.  This agreement will also see 50 A320neo aircraft Avolon has on order with Airbus converted to the larger A321neo model as passenger demand has recently rapidily 

Andy Cronin commented:  “We have been a strong supporter of the A330neo programme since its launch and, with our existing widebody orderbook fully placed, we are now locking in future growth in a supply-constrained environment. Our expanded delivery pipeline allows us to offer our customers the A330neo’s range and reduced emissions, supporting their evolving fleet needs. Our recent aircraft orders and commitments reflect our confidence in the long-term growth trajectory of the aviation sector, which is outlined in our recent World Fleet Forecast projecting that the global passenger fleet will almost double by 2042.”

Christian Scherer, Chief Commercial Officer and Head of International at Airbus said: "It’s fantastic to see Avolon once again commit additional investment in the A330neo aircraft and lead the lessor market reordering widebody aircraft. Avolon’s vision and timing could not be better with this commitment for a further 20 aircraft to its portfolio. Avolon will benefit from the strong wave of growth and replacements that we currently observe across all markets."