- Unique collaboration between Airbus, Rolls-Royce and Avolon
- A330neo delivers a compelling solution to meet MAG’s fleet needs
- First aircraft delivered today at Airbus’s Delivery Centre in Toulouse
TOULOUSE, France–(BUSINESS WIRE)–Avolon, a leading global aviation finance company, announces the delivery of the first of 20 Airbus A330neo aircraft it has agreed to lease to Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines. The delivery of the aircraft was made at Airbus’s Delivery Centre in Toulouse today, with the remaining aircraft delivering out to 2028.
The transaction was first announced in August 2022, comprising the placement of 10 A330neo aircraft from Avolon’s orderbook and 10 A330neo aircraft to be acquired from MAG via sale and leaseback. The transaction supports MAG’s fleet renewal and expansion strategy.
Compared to the previous generation A330ceo, the A330neo has an increased range of over 13,300km (7,200 nautical miles) and 25% lower fuel consumption and CO2 emissions. The A330neo’s range and efficiency, combined with its attractive per seat economics, made it the compelling choice to meet MAG’s A330ceo fleet replacement needs and develop new markets. MAG is the 20th airline to operate the A330neo.
Rolls-Royce’s Trent 7000 engine powers the A330neo and is delivering market leading reliability.
Andy Cronin, Avolon CEO, commented: “We are proud to have partnered with MAG on a complex and unique transaction. It 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.”
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 30 September 2024.
Malaysia Airlines is Malaysia’s flag carrier and currently operates a fleet of 74 narrowbody and widebody aircraft. MAG’s A330neo is configured with a premium two-class layout, featuring 297 seats, with 28 fully flat Business Class suites and an all-new Economy cabin accommodating 269 passengers. Passengers will enjoy more personal space throughout, with larger overhead storage, improved air quality and the latest in-flight entertainment and high-speed Wi-Fi connectivity.
About Avolon
Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 141 airlines in 62 countries, Avolon has an owned, managed, and committed fleet of 1,137 aircraft as of 30 September 2024 on a pro forma basis including the proposed acquisition of Castlelake Aviation Limited. www.avolon.aero
Contacts
David Breen / Joe Brennan
Avolon Investor Relations
ir@avolon.aero
T: +353 1 231 5800
Douglas Keatinge
Avolon Head of Communications
dkeatinge@avolon.aero
T: +353 86 037 4163
