Ireland-based leasing company Avolon has signed a memorandum of understanding at the Farnborough International Airshow 2012 for 15 Airbus A320neo jets. Avolon becomes a...

Ireland-based leasing company Avolon has signed a memorandum of understanding at the Farnborough International Airshow 2012 for 15 Airbus A320neo jets.

Avolon, which a day previously signed a commitment at the Farnborough International Airshow 2012 for 15 Boeing 737 MAX jets and 10 737-800s as well as taking reconfirmation rights on five more 737 MAX aircraft, becomes a new customer for the Airbus A320neo.


According to Airbus, Avolon’s commitment to the A320neo underlines the strong success of the latest-generation A320 family with leasing companies. Avolon will make its engine selection later, Airbus says.

The Airbus A320neo family is a 'new engine option' for the A320 family and features 'Sharket' wing-tip devices developed by Airbus. This image shows how an A320neo would look in Airbus colors and with Pratt & Whtiney PurePower PW1100G engines. The PW1100G geared turbofan is one of two engine options for the A320neo family, the other being the CFM International LEAP-1A

Avolon’s A320neo commitment follows a firm order for eight current-generation Airbus A320 jets made in December 2010 and brings Avolon’s total orders for Airbus single-aisle aircraft to 23.

“Today’s commitment with Airbus for 15 A320neo aircraft reflects our ambition to play a leading role in financing the next generation of aircraft for the world’s airlines,” says John Higgins, Avolon’s president and chief commercial officer.

“We are seeing great interest in the superior performance metrics and fuel economy that the neo promises,” adds Higgins. “We are also delighted to strengthen our relationship with Airbus.”

“Avolon`s vision to concentrate on productive, fuel-efficient aircraft represents the market needs of tomorrow,” says John Leahy, Airbus’ chief operating officer, customers. “The A320neo will allow Avolon to offer all the benefits of advanced technology to the aviation market.”

The Airbus A320neo family is a new engine option for the A320 family entering into service from 2015 and incorporates latest-generation Pratt & Whitney PurePower PW1100G or CFM International LEAP-1A engines, along with large ‘Sharklet’ wing tip devices, which Airbus says together will deliver 15 per cent in fuel savings.

More than 8,500 Airbus A320-family aircraft have been ordered and more than 5,100 delivered to more than 365 customers and operators worldwide.