British low-cost carrier easyJet has firmed up an order for 56 Airbus A320neo aircraft, for which it already has purchase rights and options under an existing 2013 contract and will also convert a planned order for 18 A320neos to the larger A321neo variant.
Under the new agreement, the aircraft will be delivered from financial year 2026 until financial year 2029 to replace older A319 and A320 aircraft, the airline said. The A321neos will arrive between 2024 and 2027.
easyJet will not seek equity funding from shareholders to complete the deal and will fund the acquisition over several years through “a combination of easyJet’s internal resources, cash flow, sale and leaseback transactions and debt,” the airline said in its statement.
“While the board will regularly review optimal sources of financing, there is currently no expectation that shareholders will be asked to fund any aspect of the proposed purchase,” the statement continued.
According to Planespotters.com data, easyJet currently operates a total of 166 aircraft, seven of which are marked as temporarily grounded.
The carrier’s fleet consists of 56 Airbus A319-100s (with an average fleet age of 14.3 years in operation) as well as 67 A320-200s (9.8 years in service), 33 Airbus A320neos (3.4 years), and 10 A321neos (3 years in service).