Avolon has delivered the first of 20 Airbus A330neo aircraft it has agreed to lease to Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines.
The delivery of the aircraft was made at Airbus’s Delivery Centre in Toulouse, with the remaining aircraft delivering out to 2028.
The transaction was first announced in August 2022, comprising the placement of 10 A330neo aircraft from Avolon’s orderbook and 10 A330neo aircraft to be acquired from MAG via sale and leaseback. The transaction supports MAG’s fleet renewal and expansion strategy.
“We are proud to have partnered with MAG on a complex and unique transaction,” said Andy Cronin, Avolon CEO. “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. 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 was a launch customer of the A330neo in 2014 and has 29 A330neos in its delivered portfolio, with a further 46 in its committed fleet for future delivery. Malaysia Airlines is Malaysia’s flag carrier and currently operates a fleet of 74 narrowbody and widebody aircraft.
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