Aircraft lessor Avolon has agreed to acquire 11 Airbus A321neo aircraft originally ordered by Frontier Airlines, with deliveries scheduled between November 2026 and June 2027.
The agreement was approved by the board of Avolon's parent company, Bohai Leasing, on June 30. Financial terms were not disclosed, although the aircraft carry a combined 2018 list value of about US$1.4 billion.
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The transaction transfers aircraft from Frontier's substantial Airbus orderbook. According to Airbus, the airline still has nearly 200 A321neos on direct order, placing it among the largest customers for the type.
Frontier operates a fleet of 164 Airbus narrowbody aircraft comprising six A320ceos, 71 A320neos, 21 A321ceos and 66 A321neos. Like most ultra-low-cost airlines, it relies on a single aircraft family to simplify pilot training, maintenance, spare parts inventories and day-to-day operations.
The agreement comes at a difficult period for the US low-cost sector, where airlines continue to face intense fare competition and pressure on yields.
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Years ago, Frontier attempted to merge with Spirit Airlines in a bid to gain scale in the US market. The proposal was later overtaken by JetBlue's competing offer, which Spirit's shareholders accepted before the transaction was ultimately blocked by a federal judge.
For Avolon, the purchase adds more narrowbody aircraft to its portfolio at a time when delivery slots remain scarce and demand for leased aircraft continues to outpace supply.
