Avolon orders 250 Boeing and Airbus jets, with options for 100 more Airbus aircraft

The order

Dublin-based Avolon announced on Friday that it had agreed to order 250 aircraft from Boeing and Airbus. The order comprises 140 Boeing 737 MAX jets, 75 Airbus A320neo family planes and 35 A330neos. Avolon also holds an option for a further 100 Airbus aircraft, with no type specified in the source reports. Avolon is the world's third-largest aircraft lessor.

Approval and ownership

Avolon is a subsidiary of China's Bohai Leasing, and the order still needs approval from that majority shareholder. Bloomberg reported that both planemakers won orders that lock in delivery slots at a time when their backlogs are swelling.

Fleet and backlog

The orders take Avolon's total on order to 749 aircraft, on top of the 561 aircraft it currently owns. With the new Airbus order, its A330-900 total rises to 114 aircraft, and its A320 family total reaches about 650, according to N-tv.

What the executives said

Avolon CEO Andy Cronin said the company continues to see strong demand for new-technology aircraft, reflected in its placement and trading activity this quarter. He tied the orders to the company's longer-term plans.

Against that backdrop, we are pleased to have reached agreements with Airbus and Boeing that strengthen and extend our long-term delivery pipeline.

Benoît de Saint-Exupéry, Airbus executive vice-president of sales for commercial aircraft, described the order as covering both the A330neo and the A320neo family. He said Avolon confirms its position as leading lessor of the A330-900 after ordering 114 of that model from Airbus. He also pointed to lessor demand for both products on routes ranging from domestic and regional flights to long-haul services.

This is a major order covering both the A330neo and the A320neo family, and we thank Avolon for the renewed confidence it shows in our products.