Avolon, an aviation finance company, has delivered the first of 20 Airbus A330neo aircraft to Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines. The aircraft was handed over at Airbus’s Delivery Centre in Toulouse, with the remaining deliveries scheduled to continue through to 2028.
The arrangement, announced in August 2022, includes 10 A330neo aircraft sourced from Avolon’s order book and 10 acquired from MAG through a sale-and-leaseback agreement. The deal aligns with MAG’s plans to renew and expand its fleet.
The A330neo offers improved performance compared to its predecessor, the A330ceo. It provides an extended range of over 13,300 kilometres (7,200 nautical miles) and achieves 25% reductions in fuel consumption and CO2 emissions. MAG, now the 20th operator of the A330neo, chose the aircraft for its enhanced range, efficiency, and cost-effectiveness per seat, enabling it to replace ageing aircraft and tap into new markets.
Powered by Rolls-Royce Trent 7000 engines, the A330neo is designed for reliability and efficiency.
“We are proud to have partnered with MAG on a complex and unique transaction. It was made possible due to the deep and long-standing relationships Avolon has with Airbus and Rolls-Royce, all collaborating to provide the optimal solution for MAG with the A330neo,” said Andy Cronin, Avolon’s CEO.
“With global supply of widebody aircraft extremely limited, these aircraft are a core element of MAG’s fleet renewal strategy, allowing them to capitalise on the continuing recovery in the Asian aviation market.”
Avolon, a launch customer for the A330neo in 2014, has delivered 29 of these aircraft to date and holds commitments for 46 more as of 30 September 2024.
MAG’s new A330neo is configured in a premium two-class layout, offering 28 fully flat Business Class seats and 269 Economy Class seats. Features include increased personal space, larger overhead storage, improved air quality, modern in-flight entertainment systems, and high-speed Wi-Fi.
Malaysia Airlines operates a fleet of 74 narrowbody and widebody aircraft. Avolon, meanwhile, works with 141 airlines across 62 countries, managing a fleet of 1,137 aircraft as of 30 September 2024, including commitments.
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