Business | Aviation

Lease firm acquires 12 new Airbus A350s

Airbus clinched more deals yesterday with International Lease Finance Corporation announcing an order for 12 new A350 aircraft at the Dubai Air Show.

  • By Kokila Jacob, Staff Reporter
  • Published: 00:00 November 23, 2005
  • Gulf News

Airbus clinched more deals yesterday with International Lease Finance Corporation announcing an order for 12 new A350 aircraft at the Dubai Air Show.

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The deal amounts to about $1.92 billion at list prices and the company holds an option for eight more A350s said John Plueger, president and chief operating officer, ILFC.

ILFC, a subsidiary of American International Group, is the world's largest leasing company and is Airbus' single largest customer worldwide.

With this transaction ILFC has ordered 612 new Airbus aircraft since its first order in 1989, said officials. Total firm orders for A350 stand at 155 from 11 customers, said Airbus officials. ILFC has a fleet of 750 aircraft more than half of which is Airbus aircraft. By mid-2008 its fleet size is expected to cross 1,000.

Under 10 per cent of its fleet is based in this region with Emirates Airline being its largest customer with 25 aircraft.

"This region is the fastest growing area in the world and we expect about 15 per cent to 18 per cent of our fleet will be based here in the years ahead," said Plueger.

"We are getting a lot of enquiries from our existing customers. Our fleet is the mirror image of the world fleet," he said.He indicated the company's future orders will likely be in favour of Airbus.

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