Avolon, aircraft leasing company, has announced a commitment to order 40 Boeing 737 MAX aircraft. The aircraft are scheduled for delivery between 2027 and 2030; and are valued at over $4 billion at current list price.
Avolon delivered the first 737 MAX in 2017, along with the 1000th aircraft of the type earlier this year. The purchase will increase the overall size of Avolon’s owned, managed and committed fleet to 870 aircraft.
The 737 MAX provides Avolon’s customers with greater flexibility across their networks, while reducing fuel use and emissions by up to 20% compared to the aircraft they will replace.
“This commitment with Boeing underlines our confidence in the positive momentum in the aviation market, and increases our portfolio of young, modern, fuel-efficient aircraft,” said Andy Cronin, CEO of Avolon. “With strong demand for our new technology orderbook, and delivery slots at a premium, it strengthens and extends our delivery profile with Boeing. This commitment will also support our airline customers who are looking to plan beyond the robust post-Covid traffic recovery and prepare for future growth, while also reducing their carbon emissions.”
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