Avolon increases initial NEO commitment by signing firm order for 20

Becomes latest global lessor to include fuel efficient A320neo in their portfolio

Avolon, the international leasing company has confirmed an order for 20 A320neo aircraft in December 2012. This firm order is an increase on Avolon’s initial commitment for 15 A320neo aircraft announced in July 2012 at the Farnborough International Airshow. Avolon will make its engine selection at a later date.

“Our increased commitment to the NEO reflects the strong customer feedback we have received since our original announcement for 15 NEO aircraft in July 2012. Maintaining a forward order book of highly fuel-efficient, new generation aircraft is a natural complement to our extensive sale and leaseback and other financing capabilities and maintains our position as a premier, full-service aircraft lessor,” John Higgins, Avolon President and Chief Commercial Officer commented. “We are confident that our customers will be satisfied with the economic and environmental benefits the NEO promises to deliver.”

“When a dynamic lessor such as Avolon decides to order more of our aircraft than originally planned, it’s a clear recognition of the excellent value our products deliver,” said John Leahy, Airbus Chief Operating Officer, Customers. “We are confident that the A320neo Family, which offers the best economics of any single aisle aircraft, will be the backbone of leasing companies’ portfolios for the years to come.”

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.

Close to 8,900 A320 Family aircraft have been ordered and more than 5,300 delivered to more than 380 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.