Aviation Capital Group (ACG), the Newport Beach, California-based aircraft lessor, has signed a firm order for 75 Airbus A320neo Family aircraft, Airbus announced in Toulouse on October 16.
The ACG A320neo order is the largest in the lessor’s history and takes its total historical orders for the type to 190 aircraft.
It secures new-technology narrowbody supply for lease to airlines at a time when engine shortages continue to constrain Airbus delivery rates.
Neither party disclosed the value of the order, the split between A320neo and A321neo variants, the engine selection or the delivery schedule.
The ACG A320neo order lands against a tight supply backdrop. Airbus delivered 57 aircraft in August, bringing its total for the year to 475 against a 2026 target of 870 aircraft.
The manufacturer scaled back its planned A320neo production increase because of Pratt & Whitney GTF engine shortages, and now expects output of 70 to 75 aircraft per month by the end of 2027.
Its order backlog stands at roughly 8,700 aircraft, close to a decade of production at current rates.
Airbus has said that CFM International, the alternative A320neo engine supplier, cannot increase production fast enough to offset the Pratt & Whitney delays.
For low-cost and regional operators without direct order positions, lessor commitments of this scale are a key route to new A320neo Family lift. ACG did not say which airlines or regions the aircraft are destined for.
“ACG’s portfolio strategy is focused on new-technology narrowbody aircraft that are most in-demand with airlines globally,” said Thomas Baker, chief executive and president of ACG.
Benoît de Saint-Exupéry, executive vice president sales of the Airbus commercial aircraft business, said ACG first ordered directly from Airbus in 2007. “ACG will be able to offer its customers the A320neo Family well into the next decade,” he said.
ACG reported available liquidity of $6.6 billion and a net debt to equity ratio of 2.1x as of June 30. It had 504 owned, managed and committed aircraft at that date, with a weighted average owned-portfolio age of 5.4 years.
The order comes during an ownership change. ITOCHU Corporation has agreed to acquire a 50% interest in the holding company for ACG from Tokyo Century, in a deal valued at about $1.95 billion and subject to regulatory approvals. The share transfer is expected in November.
