Dublin-based aircraft leasing company Avolon said today it has completed the delivery of five new Airbus A320neos to Middle Eastern low-cost carrier Flynas.
Avolon said the fifth plane left the Airbus delivery centre in Toulouse yesterday, completing a sale and leaseback transaction for the aircraft agreed in May 2022.
Avolon now has 11 aircraft on lease to Flynas, consisting of six A320neos, three A320ceos and two A330-300s.
The recent deliveries take Flynas's fleet to 54 aircraft, including 45 A320neos and they will support the airline's growing operations, which currently include over 1,500 flights per week to more than 70 destinations.
Paul Geaney, President and Chief Commercial Officer at Avolon, said the transaction with Flynas expands the company's relationship with one of the Middle East’s fastest growing airlines.
"We are seeing a high level of sale and leaseback opportunities in the market and we are benefiting from our ability to execute at scale. The leasing industry is enjoying continued high demand from customers which we expect to be the case for the foreseeable future," Mr Geaney added.
