Leasing firm Avolon orders 250 aircraft

The order includes 140 of Boeing's 737 MAX family aircraft. (File pic) PARIS: Aircraft leasing firm Avolon said Friday that it had ordered 140 Boeing and 110 Airbus planes because airlines are showing strong demand for modern, fuel-efficient models.

The order includes 140 of Boeing's 737 MAX family aircraft, the latest generation of its single-aisle, medium-haul aircraft.

From Airbus, Avolon ordered 75 A320neo family aircraft, which is in the same single-aisle segment that dominates the fleets of global airlines.

The Irish company also ordered 35 of Airbus's A330neo family aircraft, a wide-body aircraft for longer routes.

"We continue to see strong demand for new-technology aircraft, reflected in our placement and trading activity this quarter," Avolon's chief executive Andy Cronin said in a statement.

"These orderTs further enhance our ability to support the future fleet requirements of our airline customers as they renew and expand their fleets into the most fuel-efficient technology available," he said.

Avolon said it had taken options on an additional 100 Airbus aircraft.

It said the order still needed the approval of its majority shareholder, China's Bohai Leasing, which is expected before the end of the month.

The company said as of the end of last month it had a fleet of 1,092 aircraft that it owned or managed, leasing them to 138 airlines in 62 countries.

Leasing firms can help airlines acquire aircraft to meet short-term needs or expand their businesses without needing to deploy large sums to buy planes outright.