Leasing firm Avolon orders 250 aircraft

Aircraft leasing company Avolon announced on Friday that it has placed an order for 250 planes, a significant increase in its fleet. The order consists of 140 Boeing 737 MAX aircraft, the latest generation of single-aisle, medium-haul planes, and 110 Airbus A320neo aircraft, also part of the single-aisle segment. Additionally, Avolon has opted for 35 Airbus A330neo wide-body planes for longer routes.

Avolon's CEO, Andy Cronin, stated that the airline industry's strong demand for new-technology aircraft is evident in the company's recent orders. These new aircraft will enhance Avolon's capacity to support airlines in renewing and expanding their fleets with the most fuel-efficient technology. The company has also taken options on 100 more Airbus aircraft, awaiting approval from its majority shareholder, China's Bohai Leasing, which is expected by the end of the month.

As of the end of last month, Avolon had a fleet of 1,092 aircraft, owned or managed, leasing them to 138 airlines across 62 countries. Leasing firms like Avolon help airlines acquire aircraft for short-term needs or expansion without the need for substantial investments in purchasing planes.