Dublin-based aircraft leasing company Avolon has delivered the first of 20 Airbus A330neo planes it has agreed to lease to Malaysia Aviation Group, the parent company of Malaysia Airlines.
The remaining aircraft will be delivered up to 2028.
The transaction was first announced in August 2022 and includes the placement of 10 A330neo aircraft from Avolon’s orderbook and 10 A330neo aircraft to be acquired from MAG via sale and leaseback.
Compared to the previous generation A330ceo, the A330neo has an increased range of over 13,300km and 25% lower fuel consumption and CO2 emissions.
Malaysia Aviation Group is the 20th airline to operate the A330neo.
Andy Cronin, Avolon CEO, said the “complex and unique transaction” was made possible due to the deep and long-standing relationships Avolon has with Airbus and Rolls-Royce, all collaborating to provide the optimal solution for MAG with the A330neo.
“With global supply of widebody aircraft extremely limited these aircraft are a core element of MAG’s fleet renewal strategy, allowing them to capitalise on the continuing recovery in the Asian aviation market,” he said.
Avolon was a launch customer of the A330neo in 2014 and has 29 A330neos in its delivered portfolio, with a further 46 in its committed fleet for future delivery as at September 2024.
Malaysia Airlines is Malaysia’s flag carrier and currently operates a fleet of 74 narrowbody and widebody aircraft.
