17 Apr 2025
#3 April 2025: Irish Aircraft Leasing Newsletter
AFG Aviation Ireland Acquires Airbus A320-214 from Cebu Pacific
AFG Aviation Ireland Limited, a subsidiary of Aircraft Finance Germany GmbH, has acquired an Airbus A320-214 (MSN 4927) from CAI Limited, an affiliate of Cebu Pacific. Originally delivered in 2012, the aircraft was part of Cebu Pacific’s active fleet serving domestic and regional routes across Southeast Asia. This acquisition adds to AFG’s portfolio of narrowbody assets tailored for regional deployment.
Avolon Reports Robust Q1 Growth, Expands Fleet to 639 Aircraft
Avolon has reported significant growth in Q1 2025, expanding its fleet to 639 owned and managed aircraft, with a total portfolio of 1,096 aircraft when including committed and ordered units. The company finalised the Castlelake Aviation acquisition and placed 15 aircraft during the quarter, achieving 97% placement of its 24-month orderbook. Avolon also sold 34 aircraft, with an additional 66 sales agreements pending, underlining its active fleet management strategy and growing dominance in the new technology aircraft segment.
DP Aircraft I Leases Two Boeing 787-8s to LOT Polish Airlines
DP Aircraft I, a leasing platform under DP World, has set up two Ireland-based SPVs to lease two Boeing 787-8s to LOT Polish Airlines. The leases—set to begin in October and December 2026—each span 12 years, supporting LOT’s long-haul capacity expansion. These aircraft will replace two existing 787-8s currently leased to Thai Airways, with lease terms expiring in late 2026. This move signals DP Aircraft I’s strategic reallocation of widebody assets within its portfolio.
Acumen’s Take
On AFG’s Acquisition of A320-214 from Cebu Pacific
The acquisition aligns with AFG’s targeted growth in high-utility narrowbodies. With demand strong for aircraft like the A320-214 in short-haul regional markets, this deal adds a proven, in-demand asset to AFG’s leasing base. Acumen views this as a pragmatic acquisition reflective of current mid-life aircraft demand dynamics.
On Avolon’s Q1 Expansion and Castlelake Deal
Avolon’s aggressive fleet expansion and high placement success rate reflect its leading position in the global leasing space. The Castlelake acquisition adds scale, and the increased share of new-technology aircraft on order places Avolon at the forefront of fleet modernisation trends. Acumen sees this as a strategic consolidation move that strengthens market leadership.
On DP Aircraft’s 787 Leases to LOT
By transitioning assets from Thai Airways to LOT Polish Airlines, DP Aircraft I is proactively reshaping its widebody lease portfolio. The 12-year lease terms offer long-term revenue visibility, while LOT’s continued expansion supports asset security. Acumen recognises this as a well-timed reallocation amid shifting widebody demand in Asia and Europe.
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