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Avolon seals A330neo leasing deal with Malaysia Airlines
Irish aircraft leasing company Avolon has agreed a deal with Malaysia Aviation Group (MAG), owner of Malaysia Airlines, for the financing of 20 A330-900neo aircraft.
The transaction comprises the placement of 10 A330neo aircraft from Avolon’s orderbook and 10 A330neo aircraft acquired from MAG via sale and leaseback.
The aircraft will be delivered from 2024 onwards and be powered by Rolls-Royce engines.
Avolon has a longstanding relationship with MAG and currently has four aircraft on lease to MAG.
Avolon has a total of 48 A330neo aircraft in its portfolio, with 26 owned and managed, and 22 on order.
Andy Cronin, Avolon CEO Designate, said: “We are delighted to deliver a unique portfolio solution that will support MAG’s operations and business growth.”
“It will allow MAG to meet the growing demand for air travel in the region.”
Malaysia Airlines currently operates a fleet of 97 narrowbody and widebody aircraft.
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