Avolon has recently announced a significant expansion of its fleet, confirming orders for 100 Airbus A321neo aircraft and 40 Boeing 737 MAX aircraft. These new planes, scheduled to be delivered by 2032, signify Avolon’s commitment to fleet modernization and expansion.
Throughout 2023, Avolon has been strategically increasing its order book with new technology aircraft from Original Equipment Manufacturers. This includes earlier orders of 20 Airbus A330neos and 40 Boeing 737 MAXs. With these latest additions, Avolon’s total fleet has grown from 897 to 1037 aircraft.
Focus on Fuel Efficiency
The newly ordered A320neo and 737 MAX aircraft are known for their fuel efficiency, reducing fuel use and carbon emissions by up to 20% compared to older models. Avolon’s investment in these aircraft highlights its dedication to offering more environmentally friendly flying options.
Andy Cronin, CEO of Avolon, shared his optimism about the future of aviation and Avolon’s role in it. He emphasized the company’s transformation towards a fleet with lower emissions and the scale of the current order book. These orders reflect Avolon’s strong relationships with Airbus and Boeing.
The agreements for the aircraft orders are subject to approval by shareholders of Bohai Leasing Co., Ltd., Avolon’s major shareholder. Industry leaders from Boeing and Airbus have commended Avolon’s decision. Brad McMullen of Boeing noted Avolon’s confidence in the 737-8, while Christian Scherer of Airbus recognized the investment in the A321neo as indicative of the aircraft’s value.
With this agreement, Avolon’s direct orders from Airbus have reached a total of 632 aircraft, including various models like the A320, A330, and A350 Families. An earlier order in September for 20 A330neo aircraft was part of Avolon’s strategy to meet the increasing demand for widebody aircraft.
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