The latest wave of orders and commitments for Airbus’ best-selling A320 Family of jetliners underscores the continued market demand for both its CEO (current engine option) and NEO (new engine options), while also confirming the trend toward higher-capacity jetliner versions in meeting worldwide traffic growth.
Today’s single-aisle announcements at the 2014 Farnborough Airshow included firm orders and commitments from major leasing companies covering 163 total aircraft: 115 for SMBC Aviation Capital (110 A320neo and 5 A320ceo); 43 additional single-aisle jetliners for BOC Aviation – comprising seven NEOs and 36 CEOs; and a Memorandum of Understanding for five A321ceos ordered by CIT Group, Inc.
This follows a busy Monday for the A320 Family as well with firm orders from Air Lease Corporation for 60 A321neo and AerCap’s booking of 50 A320neo aircraft. In addition, International Airlines Group (IAG), the parent company of British Airways, converted 20 A320 Family options into firm orders – jetliners it currently intends to operate with the U.K.-based airline.
This strong demand is further proof of the success and popularity of the A320 Family as a cornerstone in the fleets of operators around the globe.
“The A320 has been a core part of our fleet since we started our business in 2001,” said Peter Barrett, CEO of Aviation Capital. “We’re delighted to be building on that investment – and I’m very confident we will be able to give our airline customers the aircraft that they both need and that they want.” In selecting a mix of CEO and NEO Family aircraft this week, customers have highlighted the benefits from the efficiency of current engine option aircraft now, as Airbus is developing and ramping-up production for NEO jetliners, which will offer a 15 per cent fuel burn reduction.
Another important trend from the Farnborough Airshow orders show the growing demand for the longest-fuselage member of Airbus’ single-aisle product line – the A321, which offers operators higher capacity for rising global air traffic – particularly in fast-growing regions such as Asia.
“Over the last year, we have seen quite a lot of demand coming up for A321s. People are upgrading their size of aircraft – and we expect that trend to continue,” said Robert J. Martin, Managing Director and Chief Executive Officer of BOC Aviation – the Bank of China’s Singapore-based aircraft leasing subsidiary.
The new business announced this week brought Airbus total orders from its A320neo product line to more than 3,000 from 57 customers, which represents a 60 per cent market in its category. Overall, Airbus has logged more than 10,500 orders for A320 Family aircraft.