Aviation News

July 20, 2010

Avolon Orders 12 Boeing Next-Generation 737s


(Photo courtesy of Boeing)

Boeing announced on Tuesday that Avolon, an Irish leasing company, ordered 12 Next-Generation 737-800 jetliners valued at $921 million.

“Avolon’s order is especially significant because it is a brand-new player in the leasing industry, having just launched in May and established offices around the world,” said Jim Albaugh, president and CEO of Boeing Commercial Airplanes.

Avolon was launched last May in Dublin, Ireland. It offers aircraft leasing and lease management services. The leasing company has offices in New York, Hong Kong and Shanghai. Avolon’s main goal is to become a leading, global player in the aircraft-leasing sector.

“Having our own delivery stream of new aircraft is a natural complement to our sale and leaseback and other financing capabilities. At a value of close to $1 billion the order reflects both the scale of our ambition and the strength of our financial backing,” said Avolon CEO Domhnal Slattery.

Boeing Next-Generation 737-800 is the best-selling version of the 737 family. It is demanded due to its reliability, fuel efficiency and economic performance. It seats between 162 and 189 passengers.