November 16, 2018
Avolon, the international aircraft leasing company, announces the placement of fifteen Airbus A320neo aircraft with Vistara, one of India’s leading full-service carriers and a joint venture of Tata Sons and Singapore Airlines. Delivery of the aircraft will commence in June 2019 and continue up to August 2021. These are the first aircraft Avolon will have on lease to Vistara.
Simon J. Hanson, Head of Asia Pacific, Avolon, commented: “Avolon is delighted to confirm the placement of fifteen A320neo aircraft with Vistara. These aircraft will open new route possibilities for Vistara; help to significantly modernize their fleet; provide operational efficiencies and unit cost improvements; and offer them new opportunities to carry more passengers and enhance their customer base. These will represent the first Avolon aircraft placed with Vistara beginning in June 2019 and continuing up to August 2021.”
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Capital Holding Co. Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415), and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation, which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 September 2018, of 890 aircraft.