Two Lessors Sign Deals for a Total of 48 A320-Family Jets

Two more aircraft leasing companies have signed follow-on orders or commitments for a total of 48 Airbus A320-family jets, in deals announced at the Farnborough Airshow.

Airbus announced on July 15, at the Farnborough International Airshow 2014, that BOC Aviation, the Singapore-based aircraft leasing subsidiary of Bank of China, ordered an additional 43 A320-family aircraft, while CIT Group Inc. signed a memorandum of understanding for five A321s.

BOC Aviation’s latest Airbus A320-family order comprises seven A320neo-family jets and 36 A320-family aircraft, across the A320 and A321 models.

Lessor BOC Aviation included 36 A320ceo-family jets (all A320s and A321s) in an order it announced on July 15, 2014 at the Farnborough International Airshow for 43 A320-family aircraft. The other seven aircraft in the order were A320neo-family jets

Robert Martin, BOC Aviation’s managing director and chief executive officer, and Fabrice Brégier, Airbus president and CEO, announced the BOC Aviation order at the Farnborough show.

BOC Aviation has already found leasing customers for its latest order’s first eight A320ceo aircraft, which are powered by V2500-A5 engines from IAE. Engine decisions for the rest of the order will follow, according to Airbus.

The BOC Aviation order for 43 Airbus A320-family jets announced on July 15, 2014 at the Farnborough International Airshow included seven A320neo-family jets, including both A320neos and A321neos

“Following our order of 38 A320ceo aircraft in the last 18 months, all of which are now placed, we are seeing additional demand for both A320ceo’s and NEOs,” says Martin. “By adding this order to our pipeline for the next five years, we are confident at meeting the needs of airlines which are expanding or replacing older fleets.”

Including the purchase agreement announced on July 15, BOC Aviation’s cumulative orders for new Airbus jets have reached 255 aircraft. As of  June 30, 142 of these aircraft have been delivered, and BOC Aviation already has another 55 committed to lease agreements.

Along with a much bigger MOU commitment for 15 A330-900neo widebodies, lessor CIT Group Inc. signed a memorandum of understanding on July 15, 2014 at the Farnborough International Airshow for five Airbus A321s

Also on July 15, Airbus announced at the Farnborough International Airshow that New York-based leasing and finance company CIT Group Inc. had included five Airbus A321 single-aisle jets as part of a memorandum of understanding which also envisages a firm order for 15 Airbus A330-900neo widebodies.

“CITs continuing appetite for our highly competitive largest single-aisle model, the A321, is evidence that the market is growing and is looking for increased capacity, productivity and the best standard of cabin comfort, all key attributes of the best-selling A320 Family,” says Brégier.