Avolon has completed the delivery of 5 new Airbus A320neos to the Middle Eastern low-cost carrier, flynas.
The fifth aircraft departed from Airbus’ delivery centre in Toulouse last week, completing a sale and leaseback transaction for the aircraft agreed in May 2022.
The A320neo is the world’s best-selling short and medium haul aircraft type, delivering 15 per cent lower fuel burn and carbon dioxide emission savings than previous technology aircraft.
Avolon now has 11 aircraft on lease to flynas, consisting of 6 A320neos, 3 A320ceos, and 2 A330-300s.
The recent deliveries take flynas’ fleet to 54 aircraft, including 45 A320neos. They will support the airline’s growing operations, which currently include over 1,500 flights per week to more than 70 destinations.
Paul Geaney, president and chief commercial officer of Avolon, said: “This transaction with flynas expands our relationship with one of the Middle East’s fastest growing airlines.
“We are seeing a high level of sale and leaseback opportunities in the market and we are benefitting from our ability to execute at scale.
“The leasing industry is enjoying continued high demand from customers which we expect to be the case for the foreseeable future.”
Avolon is a global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel.
