TAP Portugal (Lisbon) has signed long term lease agreements with Air Lease Corporation for four new Airbus A330-900neo and one new A320-200neo aircraft. The A330neo will be equipped with Rolls-Royce 7000s while the A320neo will be outfitted with CFM International LEAP1A engines.

“TAP is in the process of a major fleet transformation that simultaneously improves its cost competitiveness as well as the quality of the product,” Fernando Pinto, CEO of TAP Portugal, said. "TAP is the launch airline customer for the A330-900neo, and these four aircraft represent a substantial commitment to reinvesting in the airline’s widebody fleet. Similarly, the A320neo will be the cornerstone of TAP’s reinvestment in next generation narrowbody aircraft."

The lessor said in a statement that all five aircraft are to be sourced from its Airbus (AIB, Toulouse Blagnac) order book with deliveries scheduled to run between the fourth quarter of 2018 and the third quarter of 2019.

It is recalled that TAP Portugal signed a firm order with Airbus for fourteen A330-900neo, fifteen A320neos, and twenty-four A321neos in November 2015. The first A330neo is due in March 2018.

Meanwhile, in a shakeup of its 45% minority shareholder, Atlantic Gateway, HNA Group has increased its stake in the consortium to 5.6% while that of David Neeleman has decreased from 49% to 43.3%. Portuguese bus company owner Humberto Pedrosa retains his 51% controlling stake.