(Bloomberg) -- Airbus SE firmed up an order for 100 single-aisle aircraft from Avolon, the aircraft leasing company owned by China’s HNA Group Co.
Avolon signed a memorandum of understanding for the order, valued at $11.5 billion before customary discounts, at the Farnborough Air Show in July. It consists of 75 A320neo aircraft and 25 of the larger A321neos, the lessor said in an emailed statement Friday.
The planes are due to be delivered from 2023 onward. With the deal, Avolon’s orderbook with Airbus increased to over 220 single-aisle aircraft and 45 widebody jets, it said in the statement.
HNA, the Chinese conglomerate that’s reversing a global acquisition spree, is examining options for its Avolon, Bloomberg News reported in August, citing people with knowledge of the matter. The Chinese group has sounded out potential buyers for a stake in the business or some of Avolon’s aircraft, said the people.
--With assistance from Benjamin Katz.
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