Dublin based Aviation leasing specialist Avolon has firmed up an order for 20 A330Neo from Airbus.
The deal was originally announced as a Memorandum of Understanding (MoU) at the Paris Airshow.
Avolon was a launch customer for the A330neo the airliner has proved popular with many airlines chosing to upgrade from the A330ceo the neo with its increased range and better fuel effeciency.
Andy Cronin, CEO of Avolon, commented: “We see a high level of widebody demand within the delivery window for these aircraft. With our existing widebody pipeline already placed, these new aircraft will support our future growth plans and allow us to provide options for carriers looking to replace older A330ceo aircraft with the more fuel efficient A330neo. The order builds on our strong relationship with Airbus as a launch customer for the A330neo, and our position as the leading lessor for this aircraft type.”
Christian Scherer, Chief Commercial Officer and Head of International at Airbus commented: “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, and we welcome our continuing partnership with them.“
The A330neos will begin to be delivered in 2025.
Avolon has also converted orders for 50 A320neo orders to the larger A321neo as part of the agreement.