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Avolon deal

IRISH aircraft leasing group Avolon have inked a deal to purchase another 38 new aircraft including 12 "next generation" Boeing aircraft.

The firm signed the deal with Boeing for the delivery of a dozen 737-800 jet aircraft with a list price of $920m. However industry sources believe that Avolon is likely to have secured a discount of up to 30pc from the US manufacturer.

The aircraft are due to be delivered between 2012 and 2014. Avolon has raised $1.4bn (€1bn) of equity and debt from backers including private equity giants Cinven, CVC and Oak Hill Capital Partners.