Aircraft Orders & Deliveries
Avolon Leases 13 Airbus Jets to Etihad Airways for 2027 Deliveries
Avolon and Etihad agree on leasing 13 Airbus planes to support fleet expansion and delivery timeline amid global supply challenges.
Avolon and Etihad Airways Secure Major Lease Agreement for 13 Airbus Aircraft
We are witnessing a significant development in the global aviation finance sector as Avolon, a leading international aircraft leasing company, has officially announced a major agreement with Etihad Airways. This transaction involves the lease of 13 Airbus aircraft, specifically comprising nine A330-900neo widebodies and four A320neo family narrowbodies. This deal marks a pivotal moment for the national airline of the United Arab Emirates as it aggressively pursues its expansion targets for the coming decade.
The agreement was formalized amidst the backdrop of the Dubai Airshow, a venue often associated with high-stakes aviation procurement. For Etihad Airways, this acquisition is not merely a fleet refresh but a calculated strategic maneuver designed to secure delivery slots that are becoming increasingly scarce in the current manufacturing climate. By partnering with Avolon, Etihad has effectively bypassed the lengthy waiting lists currently plaguing direct manufacturer orders, ensuring they have the necessary capacity online within a specific, high-value timeframe.
This collaboration underscores the critical role that lessors play in the modern aviation ecosystem. While airlines often place direct orders with manufacturers like Airbus and Boeing, the supply chain constraints facing the industry have elevated the value of lessors who hold speculative order books. Avolon’s ability to provide these aircraft for delivery between 2027 and 2028 offers Etihad a competitive advantage, allowing the carrier to maintain its growth trajectory without being hindered by production delays that extend well into the 2030s.
Strategic Fleet Expansion and Delivery Timelines
The core of this transaction rests on the delivery of nine Airbus A330-900neo aircraft and four A320neo family aircraft. These deliveries are scheduled to take place in 2027 and 2028. In the context of global aviation logistics, securing widebody lift for this specific window is a substantial achievement. The industry is currently grappling with a structural undersupply of widebody aircraft, and production ramp-ups have been slower than the surging post-pandemic demand. Consequently, access to these delivery slots is a premium asset for any major carrier.
It is important to note that this lease agreement complements a simultaneous direct order Etihad has placed with Airbus. Alongside the nine leased units from Avolon, the airline has ordered six additional A330-900neos directly from the manufacturer. This brings Etihad’s total incoming fleet of this specific widebody type to 15 aircraft. This mixed approach, combining direct orders with lessor agreements, demonstrates a pragmatic strategy to balance capital expenditure with the urgent need for operational capacity.
The re-introduction of the A330 family into the Etihad fleet signals a shift in operational philosophy. Having previously retired the older A330ceo models to simplify its operations, the decision to bring back the type in its “neo” (New Engine Option) iteration suggests that the benefits of slot availability and operational efficiency now outweigh the complexities of managing a mixed fleet. The A330neo offers a 25% reduction in fuel burn and CO2 emissions compared to previous-generation aircraft, aligning with the industry’s broader sustainability goals.
“Etihad’s selection of the A330neo is a strong endorsement for the programme and reflects the high level of demand from airlines for widebody capacity. The scale of our orderbook has enabled us to ensure Etihad has the capacity required for its expansion plans.” — Andy Cronin, CEO of Avolon.
Supporting the “Journey 2030” Vision
This lease agreement is a fundamental component of Etihad Airways’ “Journey 2030” strategy. The airline is currently undergoing a transformation from a “boutique” carrier model to a more aggressive growth phase. The stated goals for this period are ambitious: Etihad aims to increase its fleet size to 200 aircraft by 2030, a target that was revised upward from a previous goal of 160. Furthermore, the airline intends to triple its passenger numbers to between 33 and 37 million annually by the end of the decade.
To achieve these numbers, the airline requires a versatile fleet capable of serving various mission profiles. Etihad CEO Antonoaldo Neves has identified the A330neo as a “sweet spot” for regional and medium-haul routes. These missions, typically connecting Abu Dhabi to destinations in India, Asia, and parts of Europe, require aircraft that are efficient over 6 to 10 hours. Using ultra-long-range aircraft like the Boeing 787-9 or Airbus A350-1000 for these medium sectors is often less efficient due to their heavier structures optimized for longer distances.
The timing of the deliveries is perhaps the most critical factor in this deal. With direct order backlogs stretching into the next decade, Neves has noted that securing aircraft for 2027 is “worth much more” to the airline than waiting for later slots. This pragmatic approach ensures that Etihad can capture market share during a period of projected growth, rather than being constrained by a lack of metal. It validates the strategy of lessors like Avolon, who placed speculative orders years ago, anticipating that supply constraints would eventually drive high-quality carriers to seek immediate lease solutions.
Concluding Analysis
The agreement between Avolon and Etihad Airways serves as a microcosm of the current state of the aviation industry. It highlights the immense value of near-term delivery slots in an environment defined by supply chain shortages. For Avolon, the deal validates its long-term investment strategy in the A330neo program, proving that demand for alternative widebody aircraft remains robust alongside the dominant A350 and B787 programs. For Etihad, the deal provides the necessary tools to execute an ambitious expansion, ensuring that its “Journey 2030” goals remain attainable.
As we look toward the latter half of the decade, we expect to see more airlines adopting similar hybrid strategies, blending direct orders with lessor support, to navigate the manufacturing backlog. The re-emergence of the A330neo as a preferred asset for medium-haul missions suggests that airlines are prioritizing operational economics and availability over fleet commonality. This transaction solidifies the partnership between a top-tier lessor and a sovereign-backed carrier, setting the stage for Etihad’s next phase of global connectivity.
FAQ
Question: How many aircraft are involved in the Avolon and Etihad deal?
Answer: The deal involves a total of 13 Airbus aircraft, consisting of nine A330-900neo widebodies and four A320neo family narrowbodies.
Question: When are the aircraft scheduled for delivery?
Answer: The aircraft are scheduled to be delivered to Etihad Airways starting in 2027 and continuing through 2028.
Question: Why did Etihad choose the A330neo?
Answer: Etihad selected the A330neo because it serves as an efficient “sweet spot” for medium-haul routes (6-10 hours) and because leasing them secured critical delivery slots in 2027, avoiding long manufacturer wait times.
Sources
Aircraft Orders & Deliveries
Avolon Finalizes Record Lessor Order for 140 Boeing 737-10 Jets
Avolon has finalized 140 Boeing 737-10s, which Boeing calls a record lessor order, lifting Avolon’s 737 MAX backlog past 240 jets.
Avolon has finalized its purchase of 140 Boeing 737-10 airplanes, which Boeing describes as a record 737 MAX order by a lessor. The deal brings Avolon’s 737 MAX backlog to more than 240 unfilled orders, according to Boeing, and commits the lessor to the largest member of the 737 MAX family.
Boeing and Avolon announced the agreement in Seattle on November 4, 2026, in a release published on Boeing’s investor relations site. It follows Avolon’s own release of October 8, 2026, in which the lessor reported a firm order for 140 737 MAX aircraft as part of its 250-aircraft Boeing and Airbus order, subject only to approval by the shareholders of Bohai Leasing Co., Ltd., Avolon’s 70% shareholder.
Why lessors are moving to the 737-10
Boeing set the order against growing lessor demand for the largest 737 MAX variant. According to the release, lessors placed firm orders for more than 230 737-10 airplanes in 2026, five times the lessor backlog for the variant at the end of 2025. Boeing said large single-aisle jets such as the 737-10 are the fastest-growing segment of commercial aviation.
According to the release, the 737-10 lets Avolon meet demand for larger single-aisle jets while drawing on the versatility of the 737 family, which Boeing says has a large customer base and low operating costs.
The manufacturer said the 737-10 offers the best per-seat economics of any single-aisle airplane, with seating for up to 230 passengers and a range of 3,100 nautical miles (5,740 kilometers). AirPro News has also covered Aerolíneas Argentinas’ six 737-10 leases from ACG.
“The 737-10 combines outstanding economics with the capacity airlines increasingly require,” said Andy Cronin, Avolon’s CEO. He said the order strengthens Avolon’s long-term delivery pipeline and its partnership with Boeing.
Brad McMullen, Boeing’s Senior Vice President of Commercial Sales and Marketing, said Avolon’s growing 737 MAX portfolio helps airlines modernize their fleets with lower emissions and operating costs, and that Boeing stands ready to support lessors expanding their single-aisle portfolios.
The 737 in lessor portfolios
Boeing described the 737 as a cornerstone of most lessors’ portfolios, representing about 30% of all financed airplanes. Lessors have ordered more than 1,450 737 MAX airplanes, about 20% of Boeing’s backlog, according to the release. Boeing said projected 4% annual passenger traffic growth over the next 20 years is pushing lessors to broaden their single-aisle offerings.
The release does not give delivery dates for the 140 aircraft or name the airlines that will lease them.
Where the order sits in Avolon’s fleet plan
In its October 8 release, Avolon said it had placed firm orders for 250 new-technology aircraft: 140 737 MAX aircraft from Boeing and 110 aircraft from Airbus, made up of 75 A320neo family and 35 A330neo family aircraft, with options for a further 100 aircraft. The orders raised Avolon’s total firm aircraft commitments to 749 aircraft, and the lessor said they support the long-term fleet requirements of its airline customers.
The same release carried Avolon’s third-quarter 2026 update. The lessor acquired 10 aircraft and sold 29 in the quarter, with 112 more agreed for sale at quarter-end. It placed 28 new-technology aircraft from its commitments, leaving 89% of its committed fleet placed for the next 24 months, and executed 84 lease agreements, extensions and amendments.
Avolon ended the quarter with an owned, managed and committed fleet of 1,092 aircraft as of September 30, 2026, or 1,342 pro forma for the new orders. It also established a US$1.5 billion commercial paper programme and closed a US$855 million unsecured term loan with a syndicate of primarily Asian banks. The company says it works with 138 airlines in 62 countries.
Cronin said in October that Avolon was seeing strong demand for new-technology aircraft, reflected in its third-quarter placement and trading activity, and that the orders would enhance its ability to support airlines renewing and expanding their fleets. The Boeing order lands days after Avolon’s Constellation Aviation launch.
Aircraft Orders & Deliveries
Eve Air Mobility and FlyBIS Sign Binding Deal for Up to 12 eVTOLs
Eve Air Mobility and FlyBIS signed a binding agreement for up to 12 eVTOLs, two firm and ten purchase rights, for Southern Brazil.
Eve Air Mobility and advanced air mobility startup FlyBIS Aviation Limited have signed a binding agreement for up to 12 electric vertical takeoff and landing (eVTOL) aircraft, made up of two firm orders and purchase rights for ten more. The deal builds on a 2022 letter of intent that covered up to 40 aircraft, and is aimed at routes in Southern Brazil.
The companies announced the agreement in a press release dated November 4, 2026, from Melbourne, Florida, published on the Embraer media center. According to the release, FlyBIS plans to deploy Eve’s eVTOL in Southern Brazil, initially linking destinations in the states of Santa Catarina and Rio Grande do Sul. The release does not disclose the value of the order or a delivery schedule.
The routes FlyBIS has in mind
The release names potential routes on the Santa Catarina coast, including Navegantes, Balneário Camboriú and Florianópolis, as well as tourism destinations in the mountain region of Rio Grande do Sul, including Gramado and Bento Gonçalves.
“This binding agreement is an important step in our relationship with FlyBIS,” said Johann Bordais, Chief Executive Officer of Eve. Bordais said Southern Brazil has high demand for urban air mobility connections because of its tourism and business activity.
“Signing this binding agreement represents a significant milestone for FlyBIS,” said Gustavo Zanettini, co-founder and Chief Executive Officer of FlyBIS. He cited Eve’s combination of aircraft, services and operational support as a strong foundation.
The two companies will keep working on the requirements for entry into service, including network planning, operational readiness, infrastructure and the integration of eVTOL services into the wider transportation system, according to the release. FlyBIS is also launching a strategic fundraising round to fund fleet acquisition, strategic partnerships and network expansion, the release says.
From a 40-aircraft letter of intent to two firm orders
Eve and FlyBIS first announced their partnership on December 8, 2022. In that release, Eve said it had signed a letter of intent with FlyBIS, which it described as an advanced air mobility startup based in Caxias do Sul, in southern Brazil, covering eVTOL operations in Brazil and South America and the purchase of up to 40 Eve eVTOL vehicles. FlyBIS was backed by Brave Aviation, whose fleet includes the Embraer Phenom 100, and said at the time that it aimed to deliver advanced air mobility (AAM) services to Brazil’s southern states as early as 2026.
The binding agreement covers up to 12 aircraft, against up to 40 in the 2022 letter of intent, and the November release does not say whether the rest of the earlier letter of intent remains in place. In the 2022 announcement, Eve said the FlyBIS aircraft were included in an order backlog of up to 2,770 eVTOLs. At the Farnborough International Airshow in July 2026, Eve gave its pre-order book as approximately 2,700 eVTOLs and listed two binding agreements with pre-delivery payments: up to 50 aircraft for Revo in Brazil and up to 50 aircraft for AirX in Japan, with AirX’s initial deployment in sightseeing and last-mile mobility beginning in 2029. The November release does not say whether the FlyBIS order includes pre-delivery payments.
Eve’s November release calls Brazil one of its most important markets, with two operators already committed and several others interested. AirPro News reported on Eve’s other 2026 commitments, including the Shearwater leasing letter of intent signed at Farnborough.
Where Eve’s flight test program stands
According to the November 4 release, Eve’s full-scale engineering prototype has completed more than 70 flights, including hover and low-speed phases. Transition-flight testing is progressing, including in-flight activation of the rear pusher propulsion system, as the aircraft moves toward wing-borne flight. AirPro News covered the first in-flight activation of the pusher propeller in August.
In its July 2026 release, Eve said the engineering prototype first flew in December 2025, that partial transition flights were planned for the summer with full transitions later in the year, and that production of six conforming prototypes would begin later in 2026.
On the regulatory side, the November release says that in September 2026, Brazil’s Ministry of Ports and Airports convened aviation authorities, government representatives and Eve to discuss certification, vertiport infrastructure, energy supply, operational safety, telecommunications and airspace integration. Eve, which says it is backed by Embraer’s 57-year aerospace history, is listed on the New York Stock Exchange (EVEX) and the São Paulo Stock Exchange (EVEB31).
Aircraft Orders & Deliveries
Boeing and Icelease Agree on Up to Three 767-300BCF Aircraft
Icelease signs for up to three Boeing 767-300BCF aircraft, with conversions at ST Engineering Singapore starting Q1 2027.
The Boeing Company and aircraft lessor Icelease have finalized an agreement for up to three Boeing 767-300 Boeing Converted Freighter (BCF) aircraft, marking the leasing firm’s expansion into the medium widebody cargo market.
Announced in a press release on November 2, 2026, the transaction includes one firm order and options for two additional conversions. The aircraft will join the managed cargo portfolio of IAT Leasing, a Dublin-based sister company to Icelease.
Conversion timeline and operational details
The formal signing ceremony for the agreement took place on October 22, 2026, during the Cargo Facts Symposium. The physical conversion work will be executed at ST Engineering’s airframe maintenance, repair, and overhaul (MRO) facilities located in Singapore.
Induction of the first Boeing 767-300 aircraft for conversion is scheduled for the first quarter of 2027. Delivery of the completed Boeing 767-300BCF to Icelease and IAT Leasing is expected to follow in the second quarter of 2027. The Boeing Converted Freighter programs are managed by The Boeing Company’s Global Services division.
Lindsey Douglas, Vice President of Cabin, Modifications, Maintenance and Digital Services at The Boeing Company, stated that the agreement underlines the continued collaboration between the two companies to meet global cargo demand.
Sigthor Einarsson, Managing Partner at Icelease, noted the strategic importance of the deal for the lessor’s broader fleet strategy.
“This agreement with Boeing to convert up to three Boeing 767 aircraft marks an important milestone for both Icelease and its Dublin-based sister company IAT Leasing,” Einarsson said.
Icelease and IAT Leasing’s growing cargo portfolio
The Boeing 767-300BCF order builds upon an established relationship between the manufacturer and the lessor. Icelease, an aircraft leasing company with a 21-year history, specializes in aircraft acquisitions, leasing, operations, finance, and investor relations. The firm was originally formed as a spinoff from Icelandair in 2005.
On November 14, 2021, Icelease placed an order for 11 Boeing 737-800 Boeing Converted Freighter (737-800BCF) aircraft during the Dubai Airshow. That order established Icelease as the launch customer for a new conversion line at Boeing’s London Gatwick MRO facility.
The newly ordered widebody freighters will be managed by IAT Leasing. Incorporated in late 2023, IAT Leasing is owned by four equity partners. The Dublin-based entity has rapidly built a portfolio of approximately 40 narrowbody and widebody passenger and Cargo aircraft, which are leased to operators globally. The company’s current managed cargo portfolio already includes seven Boeing 737-800BCF aircraft.
“The history between Icelease and Boeing dates over 20 years and includes a multitude of new aircraft deliveries as well as cargo conversions,” Einarsson said. “The Boeing 767-300BCF will join the growing managed cargo aircraft portfolio of IAT Leasing, which already includes seven Boeing 737-800BCF and other freighters leased to various customers.”
Widebody freighter market outlook
The Boeing 767-300BCF is positioned to serve regional and long-haul cargo networks as a highly efficient medium widebody converted freighter. The aircraft offers a payload capacity of 57 tonnes and a maximum range of 3,300 nautical miles.
The Icelease order aligns with broader industry forecasts regarding long-term air cargo growth. On October 28, 2026, The Boeing Company released projections indicating that the global freighter fleet will exceed 4,000 airplanes by 2045. The manufacturer anticipates that air cargo traffic will double over the same period, providing a sustained demand environment for passenger-to-freighter conversion programs across both narrowbody and widebody platforms.
AirPro News analysis
We view Icelease’s transition from narrowbody to medium widebody conversions as a natural progression for lessors seeking to capture higher-yield cargo segments. While the Boeing 737-800BCF serves domestic and regional express networks effectively, the Boeing 767-300BCF provides the volume and range necessary for intercontinental e-commerce flows. By securing conversion slots at ST Engineering for 2027, Icelease and IAT Leasing are positioning their portfolio to absorb capacity demands as older widebody freighters face retirement toward the end of the decade. The decision to allocate these assets to the recently formed IAT Leasing also highlights the robust investor appetite for dedicated freighter leasing vehicles.
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