Aviation finance company Avolon agreed to order 100 A321neo aircraft from Airbus and 40 737 MAX aircraft from Boeing. The aircraft are scheduled for delivery out to 2032.

Avolon has added 200 new technology aircraft to its orderbook this year directly from original equipment manufacturers, building on previous orders for 20 Airbus A330neos in September and 40 737 MAXs from Boeing in June. The orderbook expansion increases Avolon’s owned, managed and committed fleet from 897, as of Sept. 30, to 1,037 aircraft.

The A320neo and 737 MAX family of aircraft reduce fuel use and carbon emissions by up to 20% compared to the older generation aircraft that they will replace.

“Today’s orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation,” Andy Cronin, CEO of Avolon, said. “We have committed to direct orders for 200 new, fuel-efficient aircraft this year, supporting the transformation of our fleet to lower emissions aircraft. The scale of our orderbook reflects the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and the longstanding relationships we have with both Airbus and Boeing.”

Both orders are binding contracts subject only to approval by shareholders of Bohai Leasing, Avolon’s 70% shareholder, which is anticipated before year end.