Aviation Capital Group commits to 20 A220s and 40 A320neos
With this order, ACG is supporting the recently launched multi-million dollar ESG fund initiative by Airbus.
Full-service aircraft lessor Aviation Capital Group (ACG), wholly owned by Tokyo Century Corporation, has signed a Memorandum of Understanding (MoU) for 20 A220s and a firm contract for 40 A320neos of which five are A321XLRs.
With this order, ACG is supporting the recently launched multi-million dollar environmental, social and governance (ESG) fund initiative by Airbus that will contribute towards investment for sustainable aviation development projects.
The A220 is purpose-built for the 100-150 seat market, and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney's latest-generation PW1500G geared turbofan engines. Other key features include 50 percent reduction in noise footprint and up to 25 percent lower fuel burn per seat compared to previous generation aircraft.
"We are delighted to expand our portfolio with additional A220 and A320neo family aircraft. These highly advanced aircraft will enhance ACG's strategic objective to offer our airline customers the most modern and fuel-efficient aircraft available," said Thomas Baker, CEO and President of ACG.
The A320neo displays 99.7 percent operational reliability rate incorporating the latest latest technologies including new generation engines and Sharklet wing tip devices. It also provides operators with at least a 20 percent reduction in fuel consumption and CO2 emissions.
"The order is another gratifying endorsement of our single aisle products by one of the world's premier aircraft asset managers, ACG and the Tokyo Century Group," said Christian Scherer, Chief Commercial Officer and Head of Airbus International. "It also forcefully confirms the A220 as a growingly desirable aircraft and investment in the commercial aviation landscape. We congratulate and thank ACG for its decision to select both the A220 and A320neo families."
Founded in 1989, ACG controls approximately 400 owned, managed and committed aircraft as of September 30, 2021 that are leased to around 90 airlines across 45 countries.