The transaction adds new technology aircraft to support the Cathay Group’s long-term commitment to growing connectivity at its home hub, Hong Kong. A320neo family aircraft deliver a 20% fuel savings and CO2 reduction compared to previous-generation Airbus A320 aircraft. The A321neo is the extended version of this aircraft type, capable of carrying up to 244 passengers and with a range of 7,400km.
Avolon has 101 A320neo family aircraft in its fleet, with a significant order book pipeline for a further 192 of this aircraft type as of September 30 2023.
The Cathay Group currently flies to more than 75 passenger and cargo destinations worldwide, serving an additional 160 destinations through codeshare agreements, and has a fleet of 225 aircraft as of 30 June 2023.
Avolon is a leading global aviation finance company connecting the capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. The company has built a good reputation for customer relationships and a collaborative team approach. The firm is now working with 147 airlines in 65 countries, Avolon has an owned, managed, and committed fleet of 897 aircraft, as of 30 September 2023