Avolon places firm orders for 250 Airbus and Boeing aircraft

Avolon has disclosed firm orders for 250 aircraft split between Airbus and Boeing, the Irish lessor announced during a third-quarter business update.

The Airbus portion covers 110 aircraft: 35 A330-900 widebodies and 75 jets from the A320neo family. The Boeing order is for 140 737 Max aircraft. Avolon has not specified which Max variants are involved, though it released an image of a Max 10 alongside the disclosure. It also holds options on a further 100 aircraft under the Airbus agreement.

No delivery dates were given. Airbus said the deal takes Avolon's cumulative order total for the A330neo to 114 aircraft.

The agreements still require formal approval from shareholders of Bohai Leasing, Avolon's majority owner. According to Avolon, that approval is expected by the end of October.

Engine selections were partly disclosed. All A330neos in the order will be powered by Rolls-Royce Trent 7000 engines, and all 737 Max aircraft by CFM International Leap-1B engines. No engine choice has been given for the Airbus narrowbodies.

Avolon chief executive Andy Cronin said the lessor continues to see strong demand for new-technology aircraft, reflected in its placement and trading activity for the quarter, and that the agreements strengthen and extend its long-term delivery pipeline.

According to Avolon, the new orders bring its total firm commitments to 749 aircraft. At the end of the third quarter it reported an owned, managed or committed fleet of 1,092 aircraft, a figure that rises to 1,342 once the new orders are counted.