Avolon leases five A330 neos to T’way Air
Avolon, a leading global aviation finance company, has agreed to lease five Airbus A330neos to South Korean low-cost carrier, T’way Air (‘T’way’). The aircraft will be delivered in 2026 and will support T’way’s expansion of its international route network, which already operates to 55 destinations.
T’way is an existing Avolon customer and becomes the 12th A330neo operator in Avolon’s customer base.
The widebody production recovery is lagging behind narrowbodies resulting in a tighter market and longer wait times for widebody aircraft. In its 2024 Outlook: New Horizons paper, Avolon forecasted that the remaining delivery slots from manufacturers for widebody aircraft will be sold out to 2030 by the end of this year.
Compared to the previous generation A330ceo, the A330neo has an increased range of over 13,300km (7,200 nautical miles) and 25% lower fuel consumption and CO2 emissions.
Paul Geaney, President and Chief Commercial Officer, Avolon commented: “The T’way Air team is rapidly expanding the airline’s operations and we are delighted to have them as a new A330neo customer. The A330neo provides an ideal widebody solution to support their growth strategy. With the largest lessor committed fleet of 447 aircraft, we are well-placed to support our global customers as they look for capacity to meet the continuing high levels of travel demand.”
Hong Geun Jeong, Representative Director, T’way Air commented: “We have forged a strong relationship with Avolon and partnering on these new A330neos is an important next step in our growth ambitions. With 55 destinations and plans to expand our network the aircraft will help us in our mission to offer passengers exceptional service, reliability and value.”