Aviation Capital Group Announces Commitment with Airbus for 20 A220s and 40 A320neo Family Aircraft
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec 30, 2021--
Aviation Capital Group LLC (“ACG”), announced today that it has signed a Memorandum of Understanding (MoU) with Airbus for 20 A220s and a firm contract with Airbus for 40 A320neo Family aircraft, of which five are A321XLRs.
“We are delighted to expand our portfolio with additional A220 and A320neo Family aircraft. These highly advanced aircraft will enhance ACG’s strategic objective to offer our airline customers the most modern and fuel-efficient aircraft available,” said Thomas Baker, CEO and President of ACG.
“The order is another gratifying endorsement of our single aisle products by one of the world’s premier aircraft asset managers, ACG and the Tokyo Century Group. It also forcefully confirms the A220 as a growingly desirable aircraft and investment in the commercial aviation landscape. We congratulate and thank ACG for its decision to select both, the A220 and A320neo Families,” said Christian Scherer, Chief Commercial Officer and Head of Airbus International.
The A220 is the only aircraft purpose-built for the 100-150 seat market and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines. Featuring a 50% reduced noise footprint and up to 25% lower fuel burn per seat compared to previous generation aircraft, as well as around 50% lower NOx emissions than industry standards, the A220 is a great aircraft for regional as well as long distance routes operations.
The A320neo Family is the most successful commercial aircraft family ever and displays a 99.7% operational reliability rate. The A320neo Family incorporates the latest technologies including new generation engines and Sharklet wing tip devices, while offering unmatched comfort in all classes as well as Airbus’ 18-inch wide seats in economy as standard. The A320neo Family provides operators with at least a 20% reduction in fuel consumption and CO2 emissions. The A321XLR version provides a further range extension to 4,700nm. This gives the A321XLR a flight time of up to 11 hours, with passengers benefitting throughout the trip from Airbus’ award-winning Airspace interior, which brings the latest cabin technology to the A320 Family.
With this order ACG is supporting the recently launched multi-million dollar ESG fund initiative by Airbus that will contribute towards investment into sustainable aviation development projects.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws. Any such statements, other than statements of historical fact, are based upon ACG’s current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, such statements are not guarantees or assurances of any aspect of future performance. Such statements speak only as of the time when made, and ACG undertakes no obligation to update any such statement unless required by law.
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 400 owned, managed and committed aircraft as of September 30, 2021, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211230005234/en/
CONTACT: Gordon Grant
Head of Investor and Media Relations
+ 1 949 219 4664
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES AIR TRANSPORT FINANCE
SOURCE: Aviation Capital Group LLC (“ACG”)
Copyright Business Wire 2021.
PUB: 12/30/2021 11:29 AM/DISC: 12/30/2021 11:29 AM