Cathay group agrees sale and leaseback deal for Airbus jets with Avolon
The Cathay Group has inked a sale and leaseback agreement of nine new Airbus A320neo family aircraft with Avolon.
The A321neo and A320neo aircraft are scheduled for delivery in 2026 and 2027.
The aircraft will support the Cathay Group’s growing connectivity push at its Hong Kong hub.
A320neo family aircraft deliver 20% fuel savings and CO2 reduction compared to previous-generation A320 aircraft.
The A321neo is the extended version of the aircraft, accommodating up to 244 passengers with a range of 7,400km.
Avolon has 101 A320neo family aircraft in its leased fleet, with a large orderbook pipeline for a further 192.
Cathay Group airlines currently flies to over 75 passenger and cargo destinations plus an additional 160 destinations through codeshare agreements.
As od this summer, it has a fleet of 225 aircraft.
Paul Geaney, Chief Commercial Officer, Avolon said: “We are very pleased to agree this sale and leaseback transaction and look forward to our future partnership.”
“Passenger traffic in and out of Hong Kong has bounced back strongly this year.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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