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Avolon commits to purchase 30 Boeing aircraft

Avolon, an aircraft leasing company, has committed to purchase 30 new narrowbody Boeing aircraft, bringing Avolon’s committed fleet to 135 aircraft.

Avolon has committed to purchase 10 737 MAX 8s and 5 737 MAX 9s, as well as 10 Next-Generation 737-800s with reconfirmation rights for 5 737 MAX airplanes.

The commitment has a list-price value of USD2.3bn.

Avolon invests exclusively in modern fuel-efficient aircraft which demonstrate the strongest long-term value retention characteristics. Avolon currently has a committed fleet of 135 aircraft and the youngest large lessor fleet in the world.
Avolon is owned by international investors: Government of Singapore Investment Corporation, CVC Capital Partners, Cinven and Oak Hill Capital Partners.
The 30 aircraft commitment with Boeing follows a previous order for 12 Next-Generation 737-800s announced in July 2010, the first of which delivered recently to Japan Airlines.
Dómhnal Slattery, Avolon chief executive, says: “We are pleased to announce our commitment to purchase an additional 30 new aircraft from Boeing which brings our committed fleet to 135 aircraft and builds on the success of our 12 Next Generation 737-800s announced in 2010.  The 737-800 NG is a well-proven and hugely popular aircraft with airlines, investors and financiers and we are delighted to be adding more of the type to our portfolio. We are also proud to be one of the launch lessors for the 737 MAX, an aircraft which has already achieved strong success since its launch and which we believe will not only equal but outstrip the popularity of the 737 NG. Securing valuable, attractive positions early in the MAX programme ideally positions Avolon to best serve our global customer base.”
Ray Conner, Boeing Commercial Airplanes president and chief executive, says: “Boeing has been a partner of Avolon since launch and we are proud to continue that partnership as their business grows and they build a world-class aircraft leasing platform.”

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