AirAsia is the first customer to receive an Airbus A320neo from lessor GECAS.

The Kuala Lumpur-based airline took delivery of the aircraft (MSN7236) earlier in September in a ceremony in Hamburg.

The lessor and airline agreed to a sale-and-leaseback for five A320neos equipped with CFM International Leap-1A engines as part of a larger nine aircraft deal.

As part of the same transaction, GECAS purchased two A320s with International Aero Engines V2500 engines from AirAsia and leased two A320s powered by CFM56 engines.

Asia Aviation Capital, AirAsia’s leasing subsidiary, is the advisor and originator of the purchase-and-leaseback deal.

“This is another example of the large-scale, complex transactions only a company like GECAS can execute with our access to specific aircraft types and financial certainty,” says Antony Snelleman, GECAS's senior vice-president and regional manager.

“We were able to help AirAsia exit older technology aircraft and move toward greater engine commonality and lower maintenance costs, as well as help them finance their new deliveries through a purchase-and-leaseback.”

Source: Cirium Dashboard