Avolon commits to 15 A320neo aircraft

Avolon, the international leasing company headquartered in Ireland, today announced a Memorandum of Understanding (MoU) for 15 A320neo aircraft at the 2012 Farnborough International Airshow. Avolon becomes a new customer for the A320neo, underlining the strong success of this latest generation aircraft with leasing companies. Avolon will make its engine selection later.

This commitment follows a firm order for eight current generation A320s made in December 2010 and brings Avolon’s total orders for Airbus single-aisle aircraft to 23.

John Higgins, Avolon President and Chief Commercial Officer commented: “Today’s commitment with Airbus for 15 A320neo aircraft reflects our ambition to play a leading role in financing the next generation of aircraft for the world’s airlines. We are seeing great interest in the superior performance metrics and fuel economy that the neo promises. We are also delighted to strengthen our relationship with Airbus.”

“Avolon`s vision to concentrate on productive, fuel-efficient aircraft represents the market needs of tomorrow,” said John Leahy, Airbus Chief Operating Officer, Customers. “The A320neo will allow Avolon to offer all the benefits of advanced technology to the aviation market.”

The A320neo is a new engine option for the A320 Family entering into service from 2015 and incorporates latest generation engines and large "Sharklet" wing tip devices, which together will deliver 15 percent in fuel savings. The reduction in fuel burn is equivalent to 1.4 million litres of fuel - the consumption of 1,000 mid size cars, saving 3,600 tonnes of C02 per aircraft per year. The A320neo NOx emissions are 50% below CAEP/6, and this aircraft also has a considerably smaller noise footprint.

Over 8,500 A320 Family aircraft have been ordered and more than 5,100 delivered to more than 365 customers and operators worldwide reaffirming its position as the world’s best-selling single-aisle aircraft Family. The A320neo has over 95 percent airframe commonality making it an easy fit into existing fleets while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload at a given range

AIRBUS