Boeing Gets Order From China Aircraft Leasing For 50 737 MAXs

Jay Anderson
June 20, 2017

The order for 10 Boeing 737 Max 200 planes is in addition to 100 aircraft Ryanair had already ordered from the manufacturer.

Today's order builds on Avolon's existing orders and commitments for new technology, fuel-efficient single-aisle aircraft. The Dublin based carrier is the largest 737-800 customer in the world and the largest Boeing operator in Europe.

Ryanair has agreed to buy a further 10 aircraft from Boeing with a list price of $1.1 billion.

The agreement will be reflected on the Boeing orders and deliveries website once finalized. Avolon is the world's third largest aircraft leasing business with a pro-forma owned, managed and committed fleet, as of 31 March, 2017 of 850 aircraft valued at c. US$43 billion.

Aircraft scheduled for delivery from 2021 onwards. With this new order, its outstanding order book now consists of 139 aircraft, putting the company on track to deliver a total of no less than 230 aircraft by 2023.

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"The 737 MAX family of airplanes is the ideal combination of single-aisle aircraft for the Lion Air Group, with their new level fuel-efficiency as well as range and capacity capabilities", said Lion Air Group president Edward Sirait.

Dómhnal Slattery, Avolon CEO commented: "This order represents the single largest order that Avolon has placed with Boeing to date and underlines the scale of our ambition and the strength of our business".

"Boeing is honoured that the 737 family of airplanes continues to play an integral role in the Lion Air Group's fleet and growth strategy", said Boeing Commercial Airplanes president, Kevin McAllister. "Today's announcement is a testament to the market-leading efficiency, reliability and passenger comfort the 737 MAX will provide to our customers and the flying public for many years to come".

The report says that the single-aisle segment will see the most growth over the forecast period, fueled by low-priced carriers and emerging markets, with 29,530 new airplanes needed in this segment, an increase of nearly 5% over a year ago.

Other reports by BadHub

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