A Boeing 737 MAX in Avolon livery.

Lessor Orders $4B Worth of 737 MAX Jets

May 2, 2023
Expectations continue to grow for a rebounding commercial aircraft sector, the latest sign being an order for 40 Boeing 737 MAX jets from Avolon.

Boeing Commercial Airplanes continues to make progress in returning its 737 MAX series to competitiveness, the latest evidence being an order for 40 of the narrow-body aircraft from Avolon, a Dublin-based jet-leasing group. The estimated $4-billion order would have deliveries beginning in 2027 and continuing through 2030.

Neither the aircraft manufacturer nor its customer indicated which of the four 737 MAX variants would be supplied.

While the 737 MAX series was grounded over safety problems for 20 months during 2019 and 2020, and the OEM has lost the annual contest for new orders in each of the last two years to its rival Airbus’s A320neo series, Boeing recently reaffirmed its plan increase its 737 MAX production ratev from 31 to 38 jets/month in June, on track to 50 jets/month by 2026.

Avolon is a long-standing Boeing 737 MAX customer, having taken delivery of the first of the series in 2017 and the 1,000th earlier this year. The group currently owns and manages 578 aircraft, and has orders and commitments for a 252 more. The new order with Boeing will take its total portfolio to 870 aircraft.

“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,” stated Avolon CEO Andy Cronin. “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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