EasyJet has exercised several options for Airbus narrowbodies and, at the same time, taken options for more of the type.
As part of the January 4 announcement, EasyJet says 15 A320 options have been converted to firm orders under substantially discounted prices granted when the airline previously placed its commitment to Airbus narrowbodies. The aircraft are to arrive between 2012-2014.
The airline also converted 20 A319 orders to A320s, reflecting a broader trend within the Airbus order book for carriers to opt for larger models. While EasyJet acknowledges it will pay more for the A320, it says the price remains below the list-price for A319s.
What is more, the airline has taken 33 more A320 options, which it can exercise by March 2013. It has made small down payments on those aircraft, with the price effectively reflecting earlier agreements.
EasyJet has slowed its fleet growth and capacity expansion plan after a bitter board fight over the issue. Airline CEO Carolyn McCall notes that “a central feature of the agreement is the flexibility it gives EasyJet to vary the growth rate in its capacity to reflect economic conditions and market opportunities.”
The airline now holds 42 outstanding orders for Airbus narrowbodies and purchase rights for 31 units. Those aircraft, although with the orders placed, represent a total commitment between the airline and Airbus for 315 units.
EasyJet’s fleet plan shows the inventory growing from 196 aircraft at the end of September 2010 to 220 units by October 1, 2013. The last Boeing 737-700s are to be phased out in the 2011-2012 fiscal year.
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