FARNBOROUGH: Avolon expects 150 aircraft in five years

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New lessor Avolon is aiming to acquire 150 aircraft over its first five years of operation.

The lessor placed an order today at the Farnborough Air Show for 12 Boeing 737-800s, which it values at $921 million.

Avolon chief Domhnal Slattery said that the company envisioned a portfolio which was 80% narrowbodies.

He says that the Irish-based company's five-year plan included acquisition of some 150 aircraft, adding: "This [737] order reflects both the scale of our ambition and the strength of our financial backing."

While long-haul types are still under consideration, Slattery says the lessor is "excited" by the Boeing 787 and Airbus A350.