Boeing, Airbus Win Orders From Chinese-Owned Lessor Avolon

Boeing Co. and Airbus SE both won orders from leasing company Avolon Holdings Ltd., locking in delivery slots as the planemakers’ backlogs swell.

Avolon will buy 250 aircraft — including 140 Boeing 737 Max planes, 75 Airbus A320neo family aircraft and 35 Airbus A330neos — with options for another 100 jets, the company said in a statement Friday.

“We continue to see strong demand for new-technology aircraft, reflected in our placement and trading activity this quarter,” Avolon Chief Executive Officer Andy Cronin said in the statement.

Avolon is majority-owned by Beijing-based Bohai Leasing Co. Japan’s Orix Corp. is also a part-owner, according to Avolon’s website.

Aircraft lessors have become an increasingly important customer base for Airbus and Boeing, providing airlines with flexibility to modernize their fleets without having to outright buy expensive aircraft.

Single-aisle models such as the Boeing 737 and the Airbus A320 are the most widely flown aircraft in commercial aviation, making them the most liquid and popular part of the jet leasing industry.

Avolon has an owned, managed and committed fleet of 1,092 aircraft, including twin- and single-aisle aircraft from Boeing, Airbus, Embraer and Bombardier.

After a summit with Chinese President Xi Jinping in May, US President Donald Trump said China would buy 200 “big” aircraft.

Boeing said it reached an “initial commitment” for 200 aircraft as part of the visit, but Beijing has yet to release details of any purchase.