Friday 19 December 2014

Dublin firm Avolon places $1.5bn Boeing order

Published 15/07/2014 | 02:30

Jim McNerney, chief executive officer of Boeing Co. Dublin-based aircraft leasing firm Avolon has inked a deal to buy six Boeing Dreamliners with a list price of $1.5bn (€1.1bn)
Jim McNerney, chief executive officer of Boeing Co. Dublin-based aircraft leasing firm Avolon has inked a deal to buy six Boeing Dreamliners with a list price of $1.5bn (€1.1bn)

Dublin-based aircraft leasing firm Avolon has inked a deal to buy six Boeing Dreamliners with a list price of $1.5bn (€1.1bn).

The company, which is headed by Clare entrepreneur Domhnal Slattery, made the announcement as the world's biggest aerospace show got underway in Farnborough near London.

The order for the 787 Dreamliners comes on top of an existing order that Avolon has for 20 Boeing 737 MAX aircraft.

It brings the total number of aircraft in Avolon's owned, managed and committed fleet to 207. Customers include airlines around the world.

The company, which is 
currently plotting a stock market flotation in New York, has 116 owned aircraft in its fleet, 
12 that it manages and 79 on order.

"Our investment strategy is focused on building a portfolio of young, modern and fuel-efficient commercial aircraft," said Mr Slattery.

"This order for six Boeing 787-9 aircraft, when combined with our ongoing sale and leaseback investments in the 787 family, reflects our commitment to our customers to have a product offering built around the latest and most technically advanced aircraft available in the market."

The Farnborough air show takes place every second year, with billions of dollars worth of deals announced there.

Irish Independent

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