Newport Beach, CA (January 10, 2017) - Aviation Capital Group ("ACG"), the commercial aircraft leasing subsidiary of Pacific Life Insurance Company, announced today that it has placed follow-on orders with Airbus for 35 additional A320 Family aircraft, consisting of 30 A320neo Family aircraft, 2 A320ceo aircraft and 3 A321ceo aircraft. ACG has also secured the option to purchase 10 additional A320neo aircraft.
Including this commitment, ACG and its subsidiaries have ordered a total of 158 A320 Family aircraft directly from Airbus, consisting of 61 A320neo Family and 97 A320ceo Family aircraft. Of the 158 aircraft ordered, 66 aircraft have yet to be delivered.
"The A320 Family is one of the prime building blocks of our portfolio growth strategy" said Khanh T. Tran, CEO of ACG. "We look forward to placing these highly fuel efficient aircraft with our airline customers around the world."
"It's a pleasure to see ACG renew its confidence in the fuel efficient A320 Family," said John Leahy, Airbus Commercial Aircraft Chief Operating Officer Customers. "ACG will be able to offer its airline customers the latest and most advanced A320s that will notably deliver unmatched comfort to passengers. This order confirms that the A320 Family is a fantastic long term asset and investment in the portfolio of lessors."
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with approximately 426 owned, managed and committed aircraft, which are leased to approximately 100 airlines in approximately 45 countries. ACG was founded in 1989 and is an indirect wholly owned subsidiary of Pacific Life Insurance Company.