BOC Aviation, the Singapore-based aircraft leasing subsidiary of Bank of China, has placed a new firm order with Airbus, signed in December 2012, for 50 A320 family aircraft.
The deal includes 25 new engine option (neo) planes and comprises A320 and A321 variants of both new and current engine options.
BOC Aviation last placed an order for A320ceo (current engine option) family aircraft in 2010.
This order will be its first for the new engine option.
As an investor in aircraft, the company seeks fuel-efficient aircraft that have a wide operator base and this order will further contribute to its growth.
“Airbus’ popular A320 and A321 aircraft with the current engine option are outstanding aircraft for airlines focusing on operational efficiency who want to offer their passengers a superior short- to medium-haul travel experience,” said Robert Martin, BOC Aviation’s managing director and chief executive.
“The A320neo family order reinforces our commitment to be a key player in the leasing industry as we make the latest eco-efficient aircraft available to our customers.”
John Leahy, Airbus chief operating officer customers, said: “The announcement from BOC Aviation is another vote of confidence in the long-term appeal of our popular A320 family. It works well for the financial community thanks to its wide operator base, its proven excellent operating economics as well as strong residual values.”
Including this latest purchase agreement, BOC Aviation’s cumulative orders for new Airbus aircraft reach a total of 187, of which 131 have already been placed with airlines. BOC Aviation is the largest Asia-based aircraft leasing company and will be celebrating its 20th anniversary this year.
The A320neo will enter service from late 2015. It incorporates latest generation engines and large sharklet wing- tip devices, which together will deliver up to 15% in fuel savings.
Airbus employs more than 6,000 staff at its Broughton wing-making plant near Chester.