Global aircraft lessor Avolon has finalised delivery of five new Airbus A320neos to Middle Eastern low-cost carrier Flynas.
It completes a leaseback transaction Avolon and the airline agreed in May 2022.
Avolon now has 11 Airbus aircraft on lease to Flynas, consisting of 6 A320neos, 3 A320ceos, and 2 A330-300s.
The A320neo is the best-selling short and medium haul aircraft type, which delivers 15% lower fuel burn and CO2 emission savings than previous aircraft.
The deliveries boost Flynas’s fleet to 54 aircraft, including 45 A320neos.
They will support Flynas’s expansion plans.
Flynas currently operates over 1,500 flights per week to more than 70 destinations.
Paul Geaney, President of Avolon, said: “This transaction with Flynas expands our relationship with one of the Middle East’s fastest growing airlines.”
“We are seeing a high level of sale and leaseback opportunities in the market and we are benefiting from our ability to execute at scale.”
