Irish aircraft-leasing company Avolon has taken its first direct order aircraft delivery from US manufacturer Boeing.
This is part of a deal covering 12 737-800 aircraft that Avolon agreed to buy from Boeing in July 2010. The aircraft have a catalogue value of $921 million (€736 million).
Avolon, set up by Dómhnal Slattery in 2010, has delivered the aircraft to Japan Airlines (JAL) as part of a deal for four 737s. These will be delivered to JAL in 2012 and 2013
“We are pleased to take delivery of the first of 12 new next-generation 737-800s from Boeing,” John Higgins, president and chief commercial officer of Avolon, said in a statement yesterday.
“Key to delivering enhanced profitability for our lessees is selecting high-performance aircraft with superior fuel economy.”
This is the 71st aircraft delivery for Avolon and its committed fleet is now 105 aircraft. It recently completed a sale and lease-back on two Boeing 737-800s on lease to Indian airline, Jet Airways.
Just under half of the Avolon fleet is now placed with carriers in the Middle East and Asia.
Avolon has so far raised about $1.4 billion in equity funding from its shareholders and $2.6 billion in debt financing.