Virgin Atlantic has announced the acquisition of ten A330-300 aircraft from Airbus with a total value of $2.1 billion, Air Cargo World reported.
Deliveries will take place in 2011 and 2012 and support services to Beijing, Cancun and Vancouver from London. The more fuel-efficient A330-300s deliver lower maintenance costs as well as substantial cargo capacity.
Financing for the aircraft was arranged via leasing company AerCap. Six aircraft will be purchased from Airbus and four will be on direct operating leases.
Steve Ridgway, Chief Executive of Virgin Atlantic said, “Despite the worst economic conditions in decades, we are focusing on sustainable growth in the years ahead using the most fuel-efficient aircraft possible.”
Virgin operates six A340-300s and 19 A340-600 aircraft. The company has also ordered six A380s.
Meanwhile, Airbus has signed an MOU with the Industrial and Commercial Bank of China (ICBC), one of China’s leading banks, to provide up to $3 billion in aircraft financing for airlines based in the People’s Republic of China.
ICBC Leasing expects to provide financing solutions for up to 70 A320 Airbus aircraft assembled at Final Assembly Line China (FALC) over the next five years.