Hong Kong Aviation Capital orders 70 A320neo Family aircraft

Lessor confirms strong market demand for the efficient A320neo Family

17 July 2014 Press Release

Hong Kong Aviation Capital (HKAC), a fast growing aircraft leasing company based in Hong Kong, has signed a firm order with Airbus for a total of 70 A320neo Family aircraft (40 A320neo and 30 A321neo)

The contract was finalised at the 2014 Farnborough Airshow by Donal Boylan, CEO of HKAC and John Leahy, Airbus Chief Operating Officer, Customers. The agreement follows the Memorandum of Understanding (MoU) signed at the 2013 Paris Air Show.

“We are pleased to have finalised the order for 70 A320neo Family aircraft with Airbus. The green credentials of the NEO is one of the key factors for us to choose the aircraft and through reduced fuel burn and emissions, HKAC will enable its airline clients to reduce operating cost while improving their environment impact,” said Donal Boylan, CEO of HKAC. “In addition, the A321neo will enable operators to deliver reduced operating cost per seat, and better compete where airport slots are restricted,” added Donal Boylan.

“We are delighted to welcome Hong Kong Aviation Capital as a new customer for the NEO. It demonstrates the continuing confidence of the market in the world’s most popular and efficient single-aisle aircraft. The A320neo Family is a valuable and profitable asset for lessors and operators”, said John Leahy, Chief Operating Officer, Customers.

The agreement will be submitted for confirmation of HKAC's majority shareholder, Bohai leasing. HKAC currently has a portfolio of over 50 single and twin aisle Airbus aircraft. It provides financing leasing services to several airlines in Asia and worldwide. This is HKAC's first direct order with any aircraft manufacturer. 

The A320neo “new engine option” incorporates many innovations, including latest generation engines and large Sharklet wing-tip devices, which together deliver 15 percent in fuel savings and a reduction of 3,600 tonnes of CO2 per aircraft per year. With more than 3,000 orders received from more than 57 customers since its launch in 2010, the A320neo Family has captured some 60 percent of the market, clearly demonstrating its leadership.