Avolon puts in massive order for 140 Boeing and 10 Airbus,

Avolon placed firm orders for 250 new-technology aircraft from Boeing and Airbus
The order includes 140 Boeing 737 MAX and 110 Airbus aircraft
Avolon’s total firm commitments increased to 749 aircraft
The company ended Q3 with an owned, managed and committed fleet of 1,092 aircraft
Avolon established a $1.5 billion commercial paper programme

Avolon has placed firm orders for 250 new-technology aircraft from Boeing and Airbus, strengthening its long-term delivery pipeline. The order comprises 140 Boeing 737 MAX aircraft and 110 Airbus aircraft, including 75 A320neo family and 35 A330neo family aircraft, with options for a further 100 Airbus aircraft. The orders bring Avolon’s total firm commitments to 749 aircraft, subject to approval by shareholders of Bohai Leasing.

During the third quarter, Avolon acquired 10 aircraft and sold 29, with a further 112 aircraft agreed for sale at quarter-end. The company placed 28 new-technology aircraft from its commitments, ending the quarter with 89pc of its committed fleet placed for the next 24 months. It executed 84 lease agreements, extensions and amendments, and established a $1.5 billion commercial paper programme while closing an $855 million unsecured term loan with a syndicate of primarily Asian banks. Avolon ended the quarter with an owned, managed and committed fleet of 1,092 aircraft, or 1,342 aircraft pro forma for the new orders.

Avolon works with 138 airlines in 62 countries. The company is a subsidiary of China’s Bohai Leasing. The new orders support the long-term fleet requirements of Avolon’s airline customers.

Andy Cronin shared “We continue to see strong demand for new-technology aircraft, reflected in our placement and trading activity this quarter. Against that backdrop, we are pleased to have reached agreements with Airbus and Boeing that strengthen and extend our long-term delivery pipeline. These orders further enhance our ability to support the future fleet requirements of our airline customers as they renew and expand their fleets into the most fuel-efficient technology available.”