Avolon agrees sale and leaseback of nine Airbus A320neo family aircraft with the Cathay Group

• Transaction comprises mix of A321neos and A320neos
• Delivery scheduled in 2026 and 2027

Avolon, a leading global aviation finance company, has agreed the sale and leaseback of nine new Airbus A320neo family aircraft with the Cathay Group, a leading Asian airline group. The aircraft are scheduled for delivery in 2026 and 2027 and the transaction comprises a mix of A321neos and A320neos.

The transaction adds new technology aircraft to support the Cathay Group’s long-term commitment to growing connectivity at its home hub, Hong Kong. A320neo family aircraft deliver a 20% fuel savings and CO2 reduction compared to previous-generation Airbus A320 aircraft. The A321neo is the extended version of this aircraft type, capable of carrying up to 244 passengers and with a range of 7,400km.

Avolon has 101 A320neo family aircraft in its fleet, with a significant order book pipeline for a further 192 of this aircraft type as at September 30 2023.

The Cathay Group currently flies to more than 75 passenger and cargo destinations worldwide, serving an additional 160 destinations through codeshare agreements, and has a fleet of 225 aircraft as at 30 June 2023.

Dublin, 9 October 2023

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• Source: https://www.aviation24.be/aircraft-leasing-companies/avolon/avolon-agrees-sale-and-leaseback-of-nine-airbus-a320neo-family-aircraft-with-the-cathay-group/