Orix Aviation continued its fleet expansion through the first quarter of 2013 with the addition of six narrowbody aircraft.
The units were funded with "equity only", according to the operating lessor.
Orix added a total of four Boeing 737-800 aircraft to its portfolio during the three-month period, three of which were sourced from Avolon, according to Flightglobal's Ascend Online database.
Two new aircraft (MSNs 31165 and 33228) on lease with American Airlines were initially purchased by Avolon; however, the lessor sold the 737-800s to Orix Aviation on the delivery dates.
Another aircraft, a 2012-vintage 737-800 (MSN 40287) on lease to Ryanair, was also acquired from Avolon.
During the quarter Orix also purchased a 737-800 aircraft on lease to Canada's Westjet. The 2010-vintage aircraft (MSN 37092), was on lease from BOC Aviation, Ascend data shows.
Orix also acquired a new Airbus A320 (MSN 5477) under a sale and leaseback agreement with Columbia's Avianca signed in February. It added a 2000-vintage A320 to its portfolio on lease to US Airways. The A320 (MSN 1196) belongs to APEX Leasing and is on lease through 2021, according to Ascend.
During the first quarter Orix Aviation closed the sale of two 737-800s with leases attached to customers. The aircraft were built in 2007 and 2012, respectively.
Orix also sold four early 1990s vintage 737 Classics, comprising two -500 series and two -300 series aircraft.