Dublin-based aircraft leasing company Avolon has agreed to order 140 new aircraft from Airbus and Boeing, in a deal its owner said was worth a combined $18 billion at list prices.
The agreement includes 100 A321neo planes from Airbus, and 40 737 MAX planes from Boeing.
The lessor's Chinese owner Bohai Leasing Co Ltd said in filings to the Shenzhen Stock Exchange that the value of the Airbus deal was about $12.95 billion, based on the planemaker's 2018 list prices, with the Boeing transaction valued at about $4.9 billion based on its list prices.
It said the aircraft are scheduled for delivery by 2032.
Avolon has added 200 new aircraft to its orderbook this year direct from manufacturers.
This brings Avolon's owned, managed and committed fleet from 897 at the end of September, to 1,037 aircraft.
"Today’s orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation," said Andy Cronin, CEO of Avolon.
"We have committed to direct orders for 200 new, fuel-efficient aircraft this year, supporting the transformation of our fleet to lower emissions aircraft.
"The scale of our orderbook reflects the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and the longstanding relationships we have with both Airbus and Boeing," he added.
Both orders are subject to approval by shareholders of Bohai Leasing Co., Ltd, Avolon’s 70% shareholder, which is expected before the end of the year.
Additional reporting by Reuters
