Boeing 737 MAX 9 in new Boeing Blue livery.

Leasing Business Orders 50 New 737 MAX Jets

Feb. 22, 2022
Recognizing a rebound in commercial air travel, Air Lease Corp. is set to buy $27.7 billion worth of Boeing narrow-body aircraft.

Air Lease Corp. is set to buy 50 Boeing 737 MAX aircraft, anticipating rising aircraft demand resulting from “continuing airline industry recovery, as seen in our cash collections, operating metrics, fleet expansion, and record lease placements," as CEO/president John L. Plueger explained. The estimated $27.7-billion order consists of multiple 737 MAX 8 and 9 series jets, though the number of each type was not announced.

Boeing has not confirmed the bookings, which were announced in Air Lease Corp.’s Q4/full-year 2021 statement. The Los Angeles-based leasing business said the orders are subject to negotiation of a final purchase agreement.

Of the total, 18 of the 737 MAX jets will be orders converted from three previously booked 787 Dreamliner aircraft.

ALC also reported it is considering purchases of new freighter aircraft.

According to Pleuger, current demand for 737 MAX jets is so strong that future deliveries of new aircraft will be set for late in this decade.

ALC is a global aircraft leasing business, with 118 airline customers in 60 countries.  The Boeing order follows its December agreement to purchase 116 Airbus jets, including 59 A321neos, 25 A220-300s, 20 A321XLRs, seven A350Fs and five A330-900s.

“We are witnessing strengthening lease rates overall across the spectrum of new and used aircraft, including improvement in widebody lease rates being positively influenced by the exceptional strength in the freight market,” according to ALC executive chairman Steven F. Udvar-Házy.

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