Irish aircraft leasing company Avolon has announced new deals with Ryanair and AirAsia.
It is leasing five Boeing 737s to Ryanair and four Airbus A320 planes to AirAsia, which is Asia's largest low cost carrier with 95 planes.
Seven of the planes will be delivered this week with two more scheduled for early next year.
Avolon's fleet now stands at 88 aircraft with 25 customers in 18 countries. Its total fleet is valued at over $4 billion.
The company also said that it has increased its committed debt facilities by $600m to $2.6 billion. It said this reflects the increasing ability of the business to access a broader range of debt structures and products.
'The Avolon team has a long history of doing business with both airlines having completed our first transaction with Ryanair in 1996 and with AirAsia on its launch in 2001,' commented the company's chief commercial officer John Higgins.
