Avolon buys six A320s

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May 26: Dutch leasing company AerCap has sold six Airbus A320 aircraft to Irish leasing company Avolon. Four of the aircraft are brand new and the other two just two years old, and all aircraft are currently leased to operators.

In addition to the sale, AerCap has agreed a joint venture with Avolon that will see three of its A330-200 aircraft on long-term leases with Aeroflot. AerCap and Avolon will each contribute 50% of the equity required for this joint venture and AerCap will continue to manage the aircraft and the related leases.

Domhnal Slattery, Chief Executive Officer of Avolon, said “Following our successful $1.4 billion (€1.1 billion) initial capital raise, we are pleased to welcome five new airline customers. Our primary focus will be on Airbus A320 and Boeing 737NG family aircraft but, as today’s announcement demonstrates, we retain the capability to invest in long-haul aircraft which meet our risk and return criteria.”

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