Dublin-headquartered global aviation finance specialist Avolon has delivered the first of six Boeing 737 Max 8s to Virgin Australia.
The six 737 Max 8s are being delivered to Virgin Australia on a sale and leaseback arrangement, an arrangement where the purchased airliner is sold and then immediately leased back.
Virgin Australia has been a customer of Avolon’s since 2011 and already has eight aircraft on lease from the Irish lessor, and the addition of the aircraft will help the airline with its growth plans.
Paul Geaney, President and Chief Commercial Officer, Avolon said: “We have a strong and long-standing relationship with Virgin Australia and are delighted to support their plans with 6 new 737-8 MAX aircraft. The scale of our orderbook and balance sheet give us the ability to provide our customer airlines with bespoke solutions to support their expansion and fleet transition.”
Race Strauss, Chief Financial Officer at Virgin Australia, added: “We value our ongoing partnership with Avolon and we are pleased to welcome our first 737-8 MAX with the lessor. We look forward to building on our relationship with Avolon through future deliveries.”
This delivery is the 12th Boeing 737 Max 8 in Virgin Australia’s fleet.