Avolon, the international aircraft leasing company, announced it has completed the delivery of its 100th Airbus A320neo. The delivery to Cebu Pacific is the second A320neo delivery under an agreement made earlier this year for the Philippines low-cost carrier to lease three new A320neos. The third aircraft is scheduled to be delivered later this month following which Avolon will have 12 aircraft on lease with Cebu Pacific.
Avolon is on track to hit its target of its fleet comprising 75 percent new-technology aircraft by 2025, and has a significant order book pipeline for the A320neo family of aircraft (A320neo/A321neo), with commitments to purchase a further 184 of this aircraft type as at 31 March 2023. The A320neo delivers 20 percent fuel savings and CO2 reduction compared to previous-generation Airbus aircraft.
Paul Geaney, President and Chief Commercial Officer, Avolon commented: “As one of the largest A320neo family aircraft customers, today’s announcement marks an important milestone in our long-standing partnership with Airbus. We are also delighted to further strengthen our relationship with Cebu Pacific, supporting both the evolution of its fleet and sustainability objectives. It is great to see our customers in Asia increasing their fleet size to meet the high demand for travel in the region.”
Alex Reyes, Chief Strategy Officer, Cebu Pacific commented: “The delivery of this latest A320neo aircraft reflects our continued progress towards our goal of transitioning to a more fuel-efficient fleet. We are looking forward to completing this delivery order with Avolon, which will help further strengthening our position as one of Asia Pacific’s leading low-cost carriers.”