Aircraft Orders & Deliveries
High Ridge Aviation Acquires Boeing 787-8 Leased to TUI
High Ridge Aviation acquires a Boeing 787-8 Dreamliner from BBAM, leased to TUI, marking a new partnership and fleet expansion.
High Ridge Aviation (HRA) has officially announced the acquisition of a Boeing 787-8 Dreamliner from BBAM Aircraft Leasing & Management. The transaction, announced on December 22, 2025, marks a significant expansion of HRA’s fleet and establishes new commercial relationships for the lessor. The aircraft, identified by Manufacturer Serial Number (MSN) 34423 and registration G-TUIB, is currently on lease to the European leisure travel group TUI and will remain in operation with the airline.
This acquisition represents a notable milestone for High Ridge Aviation, a company established in 2022. According to the announcement, this deal constitutes the first asset trade between HRA and BBAM, one of the industry’s largest asset managers. Furthermore, the transaction introduces TUI as a new customer within HRA’s growing client base.
The acquisition involves a mid-size, wide-body aircraft that serves as a core component of TUI’s long-haul operations. The Boeing 787-8 is widely recognized for its fuel efficiency and composite construction, features that have maintained the type’s liquidity in the secondary market. By acquiring this asset with an attached lease, HRA secures immediate revenue generation while expanding its footprint in the wide-body sector.
Greg Conlon, Chief Executive Officer of High Ridge Aviation, emphasized the importance of industry relationships in executing this deal. In a statement accompanying the announcement, Conlon highlighted the company’s strategic focus:
“This transaction is a testament to our team’s extensive experience and long-standing relationships throughout the industry. We are focused on executing disciplined transactions that support operators while delivering durable, long-term value.” The deal underscores the operational capacity of HRA, which is led by a team of former GECAS executives and backed by the global investment management firm PIMCO. This partnership allows the lessor to leverage a “managed money” model, facilitating scalable capital deployment for assets like the Dreamliner.
The secondary market for wide-body aircraft has seen sustained activity throughout late 2025. As supply chain constraints continue to impact the delivery schedules of new aircraft from major Manufacturers, existing mid-life assets, such as the 2013-vintage Dreamliner involved in this transaction, have retained strong utility and value.
For High Ridge Aviation, this move signals a transition from its initial launch phase into a period of maturity and aggressive growth. Trading with a legacy giant like BBAM, which manages a fleet valued at over $20 billion, demonstrates HRA’s ability to compete and collaborate at the highest levels of the aircraft leasing industry. Additionally, diversifying its portfolio with a TUI-operated wide-body reduces risk by placing assets with established, global operators.
This acquisition was reported alongside HRA’s purchase of an Airbus A330-300 Passenger-to-Freighter (P2F) aircraft, further indicating a strategy to build a balanced portfolio across different asset types and sectors.
High Ridge Aviation Adds TUI-Leased Boeing 787-8 to Portfolio
Transaction Overview and Executive Commentary
AirPro News Analysis: Market Context
Summary of Key Details
Sources
Photo Credit: High Ridge Aviation
Aircraft Orders & Deliveries
Philippine Airlines First Southeast Asian Operator of Airbus A350-1000
Philippine Airlines receives its first Airbus A350-1000, expanding its long-haul US routes with improved efficiency and high-density cabin layout.
This article is based on an official press release from Airbus and additional industry data.
Philippine Airlines (PAL) has officially taken delivery of its first Airbus A350-1000, marking a major fleet milestone as the carrier becomes the first operator of the type in Southeast Asia. According to an official press release issued by Airbus on December 22, 2025, the aircraft, registered as RP-C3510, arrived in Manila from Toulouse, France, on December 20.
This delivery represents the first of nine firm orders placed by the Philippine flag carrier in 2023. The new widebody jets are intended to serve as the flagship for PAL’s long-haul network, specifically targeting non-stop transpacific routes to North-America. By integrating the A350-1000, PAL aims to modernize its fleet, replacing older Boeing 777-300ER aircraft while enhancing operational efficiency and capacity.
The A350-1000 is the largest variant in the A350 family and is designed to handle ultra-long-haul operations with a range of up to 8,700 nautical miles (16,100 km). According to Airbus and PAL statements, this capability allows the airline to operate non-stop services year-round from Manila to the East Coast of the United States and Canada without payload restrictions.
Key destinations slated for the new fleet include New York (JFK), Los Angeles (LAX), San Francisco (SFO), Seattle (SEA), and Toronto (YYZ). While long-haul service is expected to commence in the first quarter of 2026, industry reports indicate the aircraft will initially fly regional routes to Bangkok and Singapore for crew familiarization.
“The arrival of the A350-1000 marks a significant milestone in our ongoing commitment to fleet modernization and network growth. It will be a source of Filipino pride and a transformational step for our airline.”
, Lucio Tan III, President of PAL Holdings
Philippine Airlines has opted for a high-density, three-class configuration for its A350-1000 fleet, accommodating a total of 382 passengers. The layout is distinct from many other operators of the type, particularly in the economy cabin.
The Business Class cabin features 42 private suites arranged in a 1-2-1 configuration. These suites include sliding doors for privacy, fully flat beds, and direct aisle access for every passenger. Following this, the Premium Economy section offers 24 seats in a 2-4-2 layout, providing a 38-inch pitch and integrated calf rests. The Economy Class cabin comprises 316 seats arranged in a 3-4-3 (10-abreast) configuration. This high-density layout utilizes a 32-inch pitch and 16.5-inch seat width, allowing PAL to maximize passenger volume on its high-demand transpacific corridors.
The decision to utilize a 10-abreast configuration in Economy Class places Philippine Airlines among a select group of carriers maximizing the A350’s fuselage width. While this configuration significantly lowers the cost per seat, crucial for profitability on ultra-long-haul sectors, it offers reduced seat width compared to the standard 9-abreast layout found on competitors. We anticipate this will allow PAL to remain price-competitive on routes to the U.S. West Coast, though it presents a comfort trade-off for passengers on flights exceeding 14 hours.
The modernization of PAL’s fleet focuses heavily on environmental performance. The A350-1000 is powered by Rolls-Royce Trent XWB-97 engines, which Airbus states deliver a 25% reduction in fuel burn and carbon emissions compared to previous-generation aircraft like the Boeing 777-300ER.
Furthermore, the aircraft is certified to operate with up to a 50% blend of Sustainable Aviation Fuel (SAF), aligning with the airline’s long-term decarbonization goals. This efficiency is critical for maintaining the viability of ultra-long-haul routes amidst fluctuating global fuel prices.
When will the new A350-1000 start flying? How many A350-1000s has PAL ordered? What is the difference between the A350-900 and the A350-1000? Sources: Airbus Press Release
Philippine Airlines Becomes First Southeast Asian Operator of the Airbus A350-1000
Strategic Deployment and Route Network
Cabin Configuration and Technical Specifications
Premium Cabins
Economy Class Density
AirPro News Analysis
Sustainability and Efficiency
Frequently Asked Questions
While the aircraft arrived in December 2025, it is expected to perform regional familiarization flights before commencing scheduled long-haul service to North America in Q1 2026.
Philippine Airlines has placed firm orders for nine A350-1000s, with purchase rights for an additional three. Deliveries are scheduled to continue through 2027.
The A350-1000 is the longer fuselage variant of the A350 family. It seats more passengers (382 in PAL’s configuration) and is optimized for the longest routes in the network, whereas PAL already operates the smaller A350-900.
Photo Credit: Airbus
Aircraft Orders & Deliveries
Aergo Capital Acquires Boeing 737 MAX 8 from Aircastle Leased to WestJet
Aergo Capital acquires a Boeing 737 MAX 8 from Aircastle currently leased to WestJet, highlighting active secondary market demand and expanding Aergo’s aviation portfolio.
This article is based on an official press release from Aergo Capital.
Dublin-based aircraft leasing and asset management platform Aergo Capital has announced the acquisition of one Boeing 737 MAX 8 aircraft from Aircastle. The transaction, announced on December 16, 2025, involves an aircraft bearing Manufacturer Serial Number (MSN) 60513, which is currently on lease to Canadian carrier WestJet.
This acquisition marks a continuation of Aergo Capital’s strategy to invest in modern, fuel-efficient narrowbody aircraft. According to the company’s official statement, the deal underscores the active secondary market for the 737 MAX and strengthens the trading relationship between the two major lessors. The aircraft remains in operation with WestJet, ensuring continuity for the airline while transferring asset ownership to Aergo.
The deal highlights the growing collaboration between Aergo Capital and WestJet, following significant transactions earlier in the operational year. By acquiring this asset, Aergo expands its portfolio of liquid, in-demand aviation assets while Aircastle executes its strategy of active portfolio management.
The specific asset involved in the transaction is a Boeing 737 MAX 8, identified by MSN 60513. Fleet data indicates this aircraft operates under the registration C-GRAX. Originally delivered during the initial rollout phase of the MAX program, the aircraft is approximately eight years old and represents the current generation of Boeing’s narrowbody technology.
Fred Browne, Chief Executive Officer of Aergo Capital, emphasized the importance of the acquisition in strengthening ties with both the seller and the lessee. In a statement regarding the deal, Browne noted:
“We are pleased to complete the acquisition of this Boeing 737 MAX 8 from Aircastle… I also extend my thanks to WestJet for their continued partnership and support.”
On the seller’s side, Aircastle, a Stamford-based lessor owned by Marubeni Corporation and Mizuho Leasing, viewed the sale as a testament to their strong commercial network. Michael Inglese, CEO of Aircastle, commented on the relationship between the firms:
“We value the long-standing trading relationship we have built with Aergo… The acquisition underscores the strong commercial relationship between Aergo and Aircastle.”
This transaction is not an isolated event but rather part of a deepening relationship between Aergo Capital and WestJet. In August 2024, Aergo completed a significant sale-and-leaseback transaction involving eight Boeing 737-800 aircraft with the Canadian airline. That deal marked the first major collaboration between the two entities. The addition of this 737 MAX 8 further cements Aergo’s position as a key partner in WestJet’s fleet financing structure. For Aircastle, the sale aligns with a strategy of capital recycling and portfolio optimization. Trading assets with leases attached is a common practice in the aircraft leasing industry, allowing lessors to manage age profiles and risk exposure. For WestJet, the transaction represents a “backend” change of lessor; the airline retains physical possession and operational control of the aircraft, merely redirecting lease payments to the new owner, Aergo Capital.
The Secondary Market for the MAX 8
The transfer of a Boeing 737 MAX 8 between two major lessors highlights the intense demand for this asset class in the secondary market. With new aircraft production facing documented delays across the industry, “on-lease” assets, aircraft that are already built, certified, and generating revenue, have become premium commodities.
While an eight-year-old airframe might typically be considered approaching mid-life, the 737 MAX 8 remains a current-generation asset offering approximately 14% better fuel efficiency than its predecessors. For lessors like Aergo Capital, acquiring such an asset avoids the long wait times associated with factory order books. For the industry at large, this trade signals that liquidity for the MAX platform remains robust, despite, or perhaps because of, supply chain constraints limiting the delivery of new metal.
Sources:
Aergo Capital Acquires WestJet-Leased Boeing 737 MAX 8 from Aircastle
Transaction Overview and Executive Commentary
Strategic Context and WestJet Partnership
Deepening Ties with WestJet
Asset Liquidity and Market Demand
AirPro News Analysis
Photo Credit: Aergo Capital
Aircraft Orders & Deliveries
Qanot Sharq Receives First Airbus A321XLR in Central Asia
Qanot Sharq becomes Central Asia’s first operator of the Airbus A321XLR, expanding long-haul routes to North America and Asia from Tashkent.
This article is based on an official press release from Airbus and Qanot Sharq.
On December 19, 2025, Qanot Sharq, Uzbekistan’s first private airline, officially took delivery of its first Airbus A321XLR (Extra Long Range) aircraft. The delivery, facilitated through a lease agreement with Air Lease Corporation (ALC), marks a historic milestone for aviation in the region, as Qanot Sharq becomes the launch operator of the A321XLR in Central Asia and the Commonwealth of Independent States (CIS).
This aircraft is the first of four confirmed A321XLR units destined for the carrier. According to the official announcement, the airline intends to utilize the aircraft’s extended range to open new long-haul markets that were previously inaccessible to single-aisle jets, including planned services to North America and East Asia.
The newly delivered A321XLR is powered by CFM International LEAP-1A engines and features a two-class layout designed to balance capacity with passenger comfort on longer sectors. The aircraft accommodates a total of 190 passengers.
In addition to the seating configuration, the aircraft is fitted with Airbus’ “Airspace” cabin interior. Key features include customizable LED lighting, lower cabin altitude settings to reduce jet lag, and XL overhead bins that provide 60% more storage capacity compared to previous generation aircraft.
Nosir Abdugafarov, the owner of Qanot Sharq, emphasized the strategic importance of the delivery in a statement regarding the fleet expansion.
“The A321XLR’s exceptional range and efficiency will allow us to offer greater comfort and convenience while maintaining highly competitive operating economics.”
, Nosir Abdugafarov, Owner of Qanot Sharq
The introduction of the A321XLR allows Qanot Sharq to deploy a narrowbody aircraft on routes typically reserved for widebody jets. With a range of up to 4,700 nautical miles (8,700 km), the airline plans to connect Tashkent with destinations in Europe, Asia, and North America.
According to the airline’s strategic roadmap, the new fleet will support route expansion to Sanya (China) and Busan (South Korea). Furthermore, the airline has explicitly outlined plans to serve New York (JFK) via Budapest. While the A321XLR has impressive range, the distance between Tashkent and New York (approximately 5,500 nm) necessitates a technical stop. Budapest will serve as this intermediate point, potentially allowing the airline to tap into passenger demand between Central Europe and the United States, subject to regulatory approvals. AJ Abedin, Senior Vice President of Marketing at Air Lease Corporation, noted the geographical advantages available to the airline.
“Qanot Sharq is uniquely positioned to unlock the full potential of the A321XLR due to its strategic location in Uzbekistan, bridging Europe and Asia.”
, AJ Abedin, SVP Marketing, Air Lease Corporation
The delivery of the A321XLR signals a distinct shift in the competitive landscape of Uzbek aviation. Until now, long-haul flights from Tashkent,specifically to the United States,have been the exclusive domain of the state-owned flag carrier, Uzbekistan Airways, which utilizes Boeing 787 Dreamliners for non-stop service.
By adopting the A321XLR, Qanot Sharq appears to be pursuing a “long-haul low-cost” hybrid model. The A321XLR burns approximately 30% less fuel per seat than previous-generation aircraft, allowing the private carrier to operate long routes with significantly lower trip costs than its state-owned competitor. While the one-stop service via Budapest will result in a longer total travel time compared to Uzbekistan Airways’ direct flights, the lower operating costs could allow Qanot Sharq to offer more competitive fares, appealing to price-sensitive travelers and labor migrants.
Furthermore, the choice of Budapest as a stopover is strategic. If Qanot Sharq secures “Fifth Freedom” rights,which are currently a subject of regulatory negotiation,it could monetize the empty seats on the Budapest-New York sector, effectively competing in the transatlantic market while serving its primary base in Central Asia.
Sources: Airbus Press Release, Air Lease Corporation
Qanot Sharq Becomes First Central Asian Operator of Airbus A321XLR
Aircraft Configuration and Capabilities
Strategic Network Expansion
AirPro News Analysis: The Long-Haul Low-Cost Shift
Sources
Photo Credit: Airbus
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