Avolon Agrees With Malaysia Aviation Group For Financing 20 A330-900neo Aircraft

Avolon (avol), an Irish aircraft leasing firm, said on Monday that it has agreed with Malaysia Aviation Group (MAG), owner of Malaysia Airlines, for the financing of 20 A330-900neo aircraft.

Financial terms of the transaction were not disclosed.

The deal includes the placement of 10 A330neo aircraft from Avolon's order book, and remaining 10 A330neo aircraft to be acquired from MAG via sale and leaseback.

Rolls-Royce engine-powered aircraft will be delivered from 2024 onwards.

Following this transaction, Avolon has only two unplaced A330neo in its order book.

Andy Cronin, Avolon CEO Designate, commented: "…As the Asian aviation market continues to emerge from the pandemic, this A330neo transaction will help MAG renew its fleet and position them to capitalise on market recovery. The enhanced fuel-efficiency and performance, as well as the unit cost improvements of the A330neo compared to older generation aircraft, will allow MAG to meet the growing demand for air travel in the region."

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