Avolon, a prominent global aviation finance company, has announced the delivery of the first of 20 Airbus A330neo aircraft to Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines. This milestone marks the beginning of a key partnership designed to modernize MAG’s fleet and enhance its operational efficiency. The handover took place at Airbus’s Delivery Centre in Toulouse, with subsequent deliveries scheduled through 2028.
The transaction, initially revealed in August 2022, includes 10 A330neo aircraft sourced from Avolon’s orderbook and another 10 through a sale-and-leaseback arrangement with MAG. This strategic initiative aligns with MAG’s fleet renewal and expansion goals, positioning the airline for growth in emerging markets and sustained recovery in the Asian aviation sector.
The Airbus A330neo offers substantial advancements over its predecessor, the A330ceo. With a range exceeding 13,300 kilometers (7,200 nautical miles), the A330neo delivers 25% improved fuel efficiency and significantly reduced CO2 emissions. Its enhanced operational range and cost-effective performance make it an ideal replacement for MAG’s aging A330ceo fleet. Additionally, MAG becomes the 20th airline worldwide to incorporate the A330neo into its operations.
Powered by Rolls-Royce’s Trent 7000 engines, the A330neo sets a benchmark for reliability and efficiency. The state-of-the-art engine, combined with the aircraft’s design innovations, underscores Airbus’s commitment to sustainability and performance in the aviation industry.
Andy Cronin, CEO of Avolon, expressed pride in the collaboration, stating:
“We are proud to have partnered with MAG on this complex and innovative transaction. It was made possible through our deep and long-standing relationships with Airbus and Rolls-Royce, which enabled us to deliver an optimal solution tailored to MAG’s needs. With widebody aircraft in short supply globally, these A330neos form a critical component of MAG’s fleet renewal strategy, allowing them to capitalize on the robust recovery of the Asian aviation market.”
Avolon, a launch customer for the A330neo in 2014, boasts a strong presence in the market. As of September 30, 2024, the company has 29 A330neo aircraft in its delivered portfolio and 46 more on order.
Malaysia Airlines, the national flag carrier, currently operates 74 narrowbody and widebody aircraft. The newly delivered A330neo features a premium two-class cabin layout, accommodating 297 passengers with 28 fully flat Business Class suites and 269 seats in an upgraded Economy Class. Passengers will benefit from enhanced comfort, including larger overhead bins, improved air quality, cutting-edge in-flight entertainment, and high-speed Wi-Fi connectivity.
This delivery signifies a major step forward for MAG, reinforcing its position as a key player in the competitive Asian aviation market while advancing its sustainability and modernization objectives.