Continued growth in new technology fuel-efficient aircraft
Avolon, the international aircraft leasing company, has delivered its 100th Airbus A320neo, which went to Cebu Pacific.
The delivery to Cebu Pacific is the second A320neo delivery under an agreement made earlier this year for the Philippines' low-cost carrier to lease three new A320neos. The third aircraft is scheduled to be delivered later this month following which Avolon will have 12 aircraft on lease with Cebu Pacific.
Avolon is on track to hit the target of its fleet comprising 75% new technology aircraft by 2025, and has a significant order book pipeline for the A320neo family of aircraft (A320neo/A321neo), with commitments to purchase a further 184 of this aircraft type as at March 31 2023. The A320neo delivers 20% fuel savings and CO2 reduction compared to previous-generation Airbus aircraft.