Avolon, a global aviation finance company, ordered 310 new engines to power 155 Airbus A320neo family aircraft in its order book. Avolon has ordered 160 GTF engines from Pratt & Whitney and 150 LEAP-1A engines from CFM International.
The combined orders are valued at over $5 billion at current list prices. The agreement also includes options to purchase a further 160 Pratt & Whitney engines and 150 CFM International engines. The orders represent Avolon’s largest ever engine commitment.
Avolon currently has 115 A320neo family aircraft in its delivered and managed fleet, of which 39 are powered by Pratt & Whitney engines and 76 by CFM International engines. Following its order for 100 A321neo aircraft in December 2023, Avolon now has an orderbook of 279 A320neo family aircraft.
“These engines will power our orderbook of A320neo family aircraft and put us in an excellent position to service our customers’ narrowbody requirements out to 2030 and beyond,” Andy Cronin, CEO of Avolon, said. “Engine innovation has been one of the key tools to lower emissions and support the industry’s decarbonization journey. We are delighted to be working with both Pratt & Whitney and CFM International, and excited about leveraging their engines to support the transition of our fleet to more fuel-efficient technology.”
