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Singapore-Based BOC Aviation Orders 20 Airbus A320 Neo Planes

News18.com

Singapore-based aircraft leasing firm BOC Aviation announced Tuesday it had ordered 20 A320neo planes, with up to 12 of them planned to go to Colombian airline Avianca. The order is worth approximately USD 2.2 billion (2.0 billion euros) at list prices, but airlines and leasing firms typically negotiate discounts.

"We are thrilled to welcome Avianca as a new customer," BOC Aviation chief executive Robert Martin said in a statement. "This addition of 20 new Airbus A320neo aircraft reflects our disciplined investment strategy of building our portfolio with popular and in-demand new technology aircraft that provide reliability and operational efficiency," he added.

Airbus' A320neo family of aircraft has been popular among airlines as the planes offer greater fuel economy thanks to new engines and aerodynamic design features. The order brings BOC Aviation's total number of Airbus aircraft to 470. The Hong Kong-listed firm had a fleet of 509 aircraft leased to 92 airlines in 40 countries as of the end of September.

Avianca is Latin America's second-largest airline. With 21,000 employees the airline generated $4.8 billion in revenue in 2018 carrying 30.5 million passengers.