Avolon has delivered five A320neo to Flynas

The lessor Avolon recently handed over a total of five Airbus A320neo to the Saudi Arabia-based low-cost airline Flynas. The machines are part of a sale and leaseback transaction that was agreed in May of the previous year.

The fifth and last unit for the time being was transferred to Saudi Arabia this week. Flynas currently uses eleven leased aircraft from Avolon. These include six Airbus A320neo, three A320 and two A330-300.

“This transaction with Flynas expands our relationship with one of the fastest growing airlines in the Middle East. We see a high level of sale and leaseback opportunities in the market and benefit from our ability to execute these at scale. The leasing industry continues to enjoy strong customer demand and we expect this to continue for the foreseeable future,” said Avolon CCO Paul Geaney.