Avolon orders 310 new engines to power A320neo family aircraft

Avolon (AVOL) orders for 310 new engines to power 155 Airbus (EADSY) A320neo family aircraft in its order book. Avolon has ordered 160 GTF engines from Pratt & Whitney, and 150 LEAP-1A engines from CFM International. The combined orders, announced today at the Farnborough Airshow, are valued at over $5B at current list prices. The agreement also includes options to purchase a further 160 Pratt & Whitney engines and 150 CFM International engines. The orders represent Avolon’s largest ever engine commitment. Andy Cronin, CEO Avolon, commented: “These engines will power our orderbook of A320neo family aircraft and put us in an excellent position to service our customers’ narrowbody requirements out to 2030 and beyond. Engine innovation has been one of the key tools to lower emissions and support the industry’s decarbonisation journey. We are delighted to be working with both Pratt & Whitney and CFM International, and excited about leveraging their engines to support the transition of our fleet to more fuel-efficient technology.”