Avolon completes SLB on two Boeing 737-800s on lease to Jet Airways
First delivery of 12 Next-Generation 737-800 direct order aircraft Four aircraft to be leased to Japan Airlines
Dublin, Seattle, Tokyo | 11 June, 2012: Avolon, the international aircraft leasing company, and Boeing (NYSE: BA) today celebrated the delivery of the first of 12 direct order Next-Generation Boeing 737-800s. This delivery is the first of four new Boeing 737-800s that will be placed on lease to leading carrier, Japan Airlines.
Avolon is an established, international aircraft leasing firm with a primary focus on young, fuel efficient aircraft such as the Airbus A320 and Boeing 737 families. Avolon currently has a fleet of 105 aircraft and has the youngest large lessor fleet in the world with an average aircraft age of 1.4 years.
The Boeing 737-800 is the best-selling version of the successful Next-Generation 737 family. The aircraft is known for its reliability, fuel efficiency and economical performance and is selected by leading carriers throughout the world because it provides operators the flexibility to serve a wide range of markets. The single-aisle jetliner, which can seat up to 189 passengers, can fly 285 nautical miles (530 kilometres) farther and consumes 6 percent less fuel while carrying 12 more passengers than the competing model.
Simon Hanson, Avolon Head of Asia-Pacific, commented:
“A core element of our strategy is selecting high-performance aircraft with superior fuel economy such as the Boeing 737-800. A forward delivery stream of new aircraft, coupled with our industry leading sale and leaseback and other aircraft financing capabilities, provides our customers with a fully-rounded service offering.”
“We are delighted to welcome to Japan Airlines, one of the world’s leading carriers, as our customer. Today’s delivery is first of four new Boeing 737-800 NG aircraft that Avolon will lease to the airline.”
Bill Collins, Boeing vice president of Leasing Sales for Boeing Commercial Aircrafts, commented:
“We have been looking forward to delivering this airplane to Avolon, a company led by a team of highly experienced industry professionals. With this Next-Generation 737 and those on order, Avolon has a strong foundation for successful growth.”
Norikazu Saito, Japan Airlines Executive Officer, added:
“We are very pleased to partner with Avolon, a leading and innovative lessor. We continue to enhance our product offering, in a rapidly evolving Japanese aviation market, and this is the first of four new Boeing 737-800 aircraft which Avolon will deliver to us in 2012 and 2013. We look forward to further strengthening our relationship with the Avolon team in the years ahead.”
Headquartered in Ireland, with offices in Stamford CT, Hong Kong, Shanghai, Singapore and Dubai, Avolon provides aircraft leasing and lease management services. Avolon’s investors include three of the world’s leading private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners and one of the world’s leading sovereign wealth funds, Government of Singapore Investment Corporation (GIC).
Avolon has established itself as one of the leading global players in the aircraft leasing sector, leveraging off the strong financial backing of its owners and the extensive trading history and senior industry relationships of its management team. The primary asset focus of the business is on young fuel-efficient single-aisle aircraft such as the Airbus A320 family and Boeings 737NG family. In addition, Avolon also invests in best-in-class twin-aisle aircraft such as the Airbus A330 family and Boeing 777 family. Avolon has a fleet of 105 aircraft serving 32 customers in 20 countries. Avolon’s fleet is also the youngest large lessor fleet in the world with an average aircraft age of 1.4 years. See www.avolon.aero