Hong Kong Aviation Capital (HKAC), an aircraft leasing company based in Hong Kong, has finalized a firm order with Airbus for a total of 70 A320neo-family aircraft.
Announcing the Hong Kong Aviation Capital order on July 17, Airbus said the leasing company’s order included 40 A320neo jets and 30 A321neo aircraft.
The contract was finalized at the Farnborough International Airshow 2014 by Donal Boylan, CEO of HKAC; and John Leahy, Airbus chief operating officer, customers. The purchase agreement follows a memorandum of understanding for the 70 aircraft that HKAC signed at the 2013 Paris Air Show.
“The green credentials of the NEO is one of the key factors for us to choose the aircraft and through reduced fuel burn and emissions, HKAC will enable its airline clients to reduce operating cost while improving their environment impact,” says Boylan.
“In addition, the A321neo will enable operators to deliver reduced operating cost per seat, and better compete where airport slots are restricted,” Boylan adds.
HKAC’s order agreement for the 70 Airbus A320neo-family jets will be submitted for confirmation of the leasing company’s majority shareholder, Bohai Leasing.
Hong Kong-based HKAC currently has a portfolio of more than 50 single and twin aisle Airbus aircraft. Its July 17 purchase agreement is HKAC’s first direct order with any aircraft manufacturer.
Airbus has received firm orders for more than 3,000 A320neo-family jets since the manufacturer launched the program in December 2010.