BOC Aviation orders 50 A320 Family aircraft, including 25 NEO

BOC Aviation, the Singapore-based aircraft leasing subsidiary of Bank of China, has placed a new firm order, signed in December 2012, for the purchase of 50 A320 Family aircraft including 25 NEOs. The order comprises A320 and A321 variants of both engine options. BOC Aviation will make its engine selection for the aircraft at a later date.

BOC Aviation last placed an order for A320ceo Family aircraft in 2010. This order for A320neo Family aircraft 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 Officer. “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.”

“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," said John Leahy, Chief Operating Officer Customers, Airbus. “With this latest order for A320 Family aircraft, BOC Aviation is well placed to continue to build on its position as a top tier leasing company."

Including this latest purchase agreement, BOC Aviation’s cumulative orders for new Airbus aircraft reach a total of 187 (181 A320 Family and six A330 Family aircraft), of which 131 have already been placed with airlines. BOC Aviation has also been growing its Airbus fleet through purchase and leaseback transactions with airlines. To date, BOC Aviation has successfully placed Airbus aircraft with over 40 airlines worldwide. BOC Aviation is the largest Asia-based aircraft leasing company and will be celebrating its 20th anniversary this year.

The A320neo will enter into service from late 2015, followed by the A319neo and A321neo in 2016. The A320neo Family incorporates latest generation engines and large Sharklet wing-tip devices, which together will deliver up to 15 percent in fuel savings which is equivalent to 1.4 million litres of fuel - the consumption of 1,000 mid size cars, saving 3,600 tons of C02 per aircraft per year. With more than 1,600 firm orders since its launch in December 2010, the A320neo Family is the fastest selling commercial aircraft programme ever.

The A320 Family is the world’s best-selling and most modern single aisle aircraft Family. To date, close to 8,900 aircraft have been ordered and over 5,300 delivered to more than 380 customers and operators worldwide.