Aircraft leasing company Avation announced the purchases of two twin-aisle passenger jets — a Boeing 777-300ER and an Airbus A330-300 —from another lessor in a move designed to further grow and diversify its leasing portfolio.

Avation acquired a Boeing 777-300ER twin-aisle aircraft from another lessor and is scheduled to deliver it to Philippine Airlines.

The firm said the acquisition of the aircraft is expected to be completed by the end of Q4/17 and the lease is long-term at market rate financial terms.

In a separate announcement, Avation also announced the purchase of one Airbus A330-300.

Avation’s executive chairman Jeff Chatfield commented, “We have been seeking to grow and diversify our portfolio of aircraft and a new Boeing 777-300ER aircraft advances these objectives.”