Lessor Avolon orders 90 Airbus aircraft to bring total on order above 400
Dublin-based Avolon, the world's second-largest aircraft lessor, said the order included further purchase rights for 25 A321neos and options to buy 15 A330neos. It follows large orders it placed with both Airbus and Boeing (BA.N), opens new tab in 2023.
"We continue to see very strong demand for aircraft. We expect that trend to continue and we expect that demand to outstrip supply of aircraft over the coming years," Avolon Chief Executive Andy Cronin told Reuters.
Cronin added that Avolon was also close to placing all of the 40 existing A330neo it has on order with airlines. Avolon was a launch customer for the wide-body jet in 2014.
The aircraft leasing sector is responsible for around half of the planes on order with Airbus and Boeing.
"Lessors are excellent barometers of the aircraft market. This endorsement illustrates the strong attractiveness to a wide variety of customers of these two aircraft," Benoit de Saint-Exupery, senior vice president of sales at Airbus' commercial aircraft business, said in a statement.
Avolon, a subsidiary of China's Bohai Leasing Co Ltd (000415.SZ), opens new tab, is due to start taking delivery of around 70 aircraft a year from the two main manufacturers over the next year or so.
Cronin said he was confident most of those planes would be delivered on time in 2026 and 2027, but that he would be "fairly surprised" if they all arrived on schedule.
Avolon also reported a 36% year-on-year increase in net income in the second quarter on Thursday, the first full quarter to include last year's $5 billion acquisition of smaller rival Castlelake Aviation Limited.
Cronin said Avolon was seeing "very, very robust growth" for air travel across the world.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
a minute ago
- Reuters
Italian manufacturing contraction softens in July, PMI shows
ROME, Aug 1 (Reuters) - The Italian manufacturing sector contracted for a 16th consecutive month in July but at a considerably slower rate than the month before, showing tentative signs of stabilisation, a survey showed on Friday. The HCOB Italy Manufacturing Purchasing Managers' Index (PMI) stood at 49.8 in July versus 48.4 in June, marking the highest reading since March 2024 while remaining below the 50 threshold that separates growth from contraction. The sub-indexes for new orders and output each came in just below the 50 mark, at 49.5 and 49.0 respectively, with both pointing to a far slower rate of contraction than the month before. "Overall, July's data suggest that Italy's manufacturing sector may be approaching a turning point. The recent EU–US trade agreement has prevented a sharp escalation in tensions and provides a welcome dose of planning certainty for Italian exporters," said Nils Muller, junior economist at Hamburg Commercial Bank AG. Manufacturing sector employment declined for the tenth consecutive month and at a steeper rate than in June, according to the survey, with the subindex falling to 48.4 in July from June's 49.5. The most recent official industrial output data in the euro zone's third-largest economy showed an unexpected fall in May in a renewed sign of weakness after a surprise rise in April. The Italian economy unexpectedly shrank by 0.1% in the second quarter from the previous three months, after the government in April halved its 2025 growth estimate to 0.6% amid mounting uncertainty due to U.S. tariffs.
The Independent
3 minutes ago
- The Independent
BA's owner says Arora's plan for shorter third runway at Heathrow is ‘credible'
British Airways' parent company has described hotel tycoon Surinder Arora's Heathrow expansion as 'credible'. International Airlines Group (IAG) chief executive Luis Gallego said 'competition is good to improve things'. Mr Arora and Heathrow's owners submitted rival third runway plans to the Government this week. The former is proposing to build a shorter, 2,800-metre (9,186ft) runway so the M25 motorway does not need to be diverted. His Arora Group company claims this would result in 'reduced risk' and avoid 'spiralling cost'. In contrast, Heathrow is seeking permission for a full length, 3,500-metre (11,482ft) runway. It says a short runway would reduce operational flexibility, and still require either additional capacity on the M25 or alternative rail schemes. British Airways is the largest airline operating at Heathrow. Mr Gallego said: 'We need to work closely with both parties to understand better what they have proposed because the proposals are not comparable.' He said they are 'different solutions that we need to analyse'. Mr Gallego added: 'We have two credible proposals. 'We always think that competition is good to improve things, and we have seen that in commercial aviation in the past.' Mr Gallego continued: 'We need to work with both of them. We don't have any preference. 'We only want to build something affordable that'll allow everybody to have more passengers, but they don't have to pay the level they are paying today.' He said a change in Heathrow's regulatory model is required if a third runway is to be built, as 'this level of investment is not possible with the current one'. Heathrow said its runway and airfield plan would be privately funded at a cost of £21 billion. Its total plan, including terminals and supporting infrastructure, would be expected to cost £49 billion. Mr Arora's plan has a cost estimate of under £25 billion, not including the redevelopment of the airport's existing central area. Transport Secretary Heidi Alexander will consider the third runway plans over the summer so that a review of the Airports National Policy Statement (ANPS) can begin later this year. The ANPS will provide the basis for decision-making on any development consent order application.
BBC News
3 minutes ago
- BBC News
Tottenham close to loan move for Bayern's Palhinha
Tottenham are closing in on a loan move for Bayern Munich midfielder Joao between the clubs are at an advanced stage, with an agreement in principle in agreement over personal terms is unlikely to pose a problem and the deal is set to carry an option for the 30-year-old to make the transfer has significant Premier League experience, making 68 top-flight appearances in two years at Fulham before his move to Germany for £42.3m in July the Portugal international has made just six Bundesliga starts since his move to Bavaria and is keen for a return to have already made Mathys Tel's loan move from Bayern permanent since the arrival of head coach Thomas Frank, while Mohammed Kudus has been signed from West Ham in a deal worth £ had previously looked to add to their midfield but failed in their pursuit of Nottingham Forest captain Morgan Gibbs-White.
