Boeing
A Boeing 737 MAX-8 in Avolon livery.

Leasing Group Orders 140 Jets Worth $18 Billion

Dec. 13, 2023
Airbus and Boeing share in Avolon’s portfolio expansion with orders that reconfirm the overall bullish long-range outlook for expansion in the commercial aerospace sector.

Avolon, one of the world’s largest aircraft leasing groups, booked an estimated $18-billion worth of new narrow-body jets – 100 Airbus A321neo jets and 40 Boeing 737 MAX-8 aircraft. Deliveries will be scheduled through 2032, and the new capacity will boost Avolon’s total fleet under lease to 1,037 aircraft. The two orders reconfirm the overall bullish long-range outlook for expansion in the commercial aerospace sector, with growing demand for newer and more fuel-efficient aircraft.

"Today's orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation," stated Avolon CEO Andy Cronin.

Based on list prices for the A320neo series aircraft, the Airbus share of the new bookings appears to be worth about $12.95 billion. With this placement Avolon will have 190 A321neo jets on order, and 292 of the A320neo series. which Cronin said is “locking in our ability to support customers’ replacement and fleet-expansion plans into the next decade." The group has booked a total of 632 Airbus jets from the A320, A330, and A350 series.

“We welcome the opportunity to enhance the longstanding relationship we have with Airbus and build on the order we made for 20 A330neos earlier (September) this year,” he added.

The order for 40 Boeing 737 MAX-8 aircraft, worth about $4.9 billion according to list prices, will expand the lessor’s pool of MAX jets to 140 aircraft, of all three variants, including eight that have been delivered to date.

According to Cronin, "We have now committed to 80 new, fuel-efficient 737 MAX airplanes this year, supporting the transformation of our fleet to lower-emissions airplanes. Avolon has been a long-standing supporter of the 737 MAX platform, delivering the 1,000th 737 MAX produced earlier this year and the first-ever 737 MAX in 2017. It is a pleasure to partner again with Boeing on this new order."

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