BOC Aviation has placed an order for 20 Airbus A320neos, with at least 10 committed to new customer Avianca.

“This addition of 20 new Airbus A320neo aircraft reflects our disciplined investment strategy of building our portfolio with popular and in-demand new technology aircraft that provide reliability and operational efficiency,” says Robert Martin, the Singapore-based lessor’s managing director and chief executive.

“With this order, this brings our total Airbus aircraft purchased since inception to 470 aircraft. We are proud to continue building on our long-standing relationship with Airbus.”

Colombia-based Avianca may lease up to 12 A320neos. Its chief finance officer, Adrian Neuhauser, says, “We are delighted to establish a relationship with BOC Aviation, who are one of the world’s foremost lessors, and we sincerely value the confidence they are showing in Avianca and the support to our long-term plan.”

Airbus chief commercial officer, Christian Scherer, says: “We are pleased that BOC Aviation is further expanding its already large A320neo position with this innovative transaction with Avianca, illustrating the beneficial role large aircraft lessors play in modern aviation finance.”

BOC Aviation did not disclose the transaction price but tells Cirium the aircraft will be delivered in 2023 and 2024.

Just last month, the lessor placed a separate order for 18 A320neos, scheduled for delivery between 2022 and 2023. The contract included an option for the lessor to either purchase or take the aircraft on long-term lease at the time of delivery.

Cirium fleets data shows that BOC Aviation has 363 aircraft in its managed portfolio, of which 49 are A320neo aircraft. A further 145 aircraft are on order, and this includes 18 A320neo aircraft scheduled for delivery between 2020 and 202