Leading global aviation finance company Avolon has partnered with commercial aircraft manufacturer Airbus to support the development of hydrogen-powered commercial aircraft through Airbus’ ZEROe Project.

Announced at the Farnborough International Airshow on July 24, 2024, Airbus and Avolon will investigate how future hydrogen-powered aircraft could be financed and commercialised, and how they might be supported by the leasing business model.

Airbus, which revealed its ZEROe hydrogen-powered aircraft ambition in 2020, has focused on pioneering the technology required for hydrogen flight and developing the ecosystem to support it.

Avolon shares Airbus’ commitment to achieving the aviation sector’s decarbonisation goals and has a track record of being a thought leader on future technologies through its investment in electric vertical take-off and landing (eVTOL) developer Vertical Aerospace, and its research into sustainable aviation fuel production.

Avolon is also committed to having a fleet that comprises 75% new technology, lower emissions aircraft by the end of 2025.

“Joining the ZEROe Project is another step in Avolon’s sustainability journey, and we look forward to building on our long-standing partnership with Airbus to consider how the next generation of aircraft will be financed and commercialised.

“While we continue to focus on supporting our customers in modernising their fleets with lower emissions aircraft, it is also vital that we look beyond that at what can further drive our industry’s decarbonisation,” says Avolon president and chief commercial officer Paul Geaney.

“There is real value in bringing together industry leaders to help solve the challenges facing aviation. We know we can’t solve decarbonisation alone and welcome Avolon’s expertise and worldwide leadership in the aircraft leasing business. Working together to consider how the transition can be commercialised and financed for airline customers is crucial to success,” concludes Airbus VP for the ZEROe Project Glenn Llewellyn.