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Irish leasing firm to buy 12 Boeings

Irish aircraft leasing company Avolon has ordered 12 Boeing 737 airliners for $920m (€709.3m), the two companies said at the Farnborough air show today.

The head of the commercial division at US group Boeing, Jim Albaugh, welcomed the arrival of Avolon as 'a brand new customer'.

Avolon was created in May when it raised $1.4 billion in funding. The group was founded by businessman Domhnall Slattery.

Boeing had already included this order in its order book, but the name of the buyer had not been revealed. Avolon has now ordered more than 30 aircraft, including Airbus A320 and A330 aircraft.

Earlier, British low-cost airline Flybe said it had ordered up to 140 aircraft potentially worth €3.8 billion from Brazilian manufacturer Embraer to help its European expansion.