Aircraft leasing group Avolon has agreed to lease nine aircraft to Ryanair and AirAsia for $740m – five Boeing 737-800s to Ryanair and four Airbus A320s to AirAsia.
Avolon has signed seven-year lease agreements with Ryanair, while the AirAsia deals will have a 12-year duration.
Seven of the planes will be delivered to the airlines in the coming weeks, which includes the five to Ryanair, with the other two due in early 2012.
The leasing will take Avolon’s fleet to 88, with 25 customers in 18 countries.
