Leasing agent Avolon has a portfolio of 915 commercial aircraft, and is adding 55 Boeing 737 MAX 8 aircraft and 20 MAX 10s, and holds options for 20 additional MAX 8s.

Boeing Lands $11-Billion Order for 75 Jets

Nov. 21, 2017
Leasing firm Avolon building out its fleet of “new technology” aircraft with contract for 737 MAX 8s and MAX 10s

Boeing Commercial Airplanes confirmed a final order with Avolon, an aircraft-leasing company, for 75 new 737 aircraft and options for 20 more. If the order is fully subscribed by Avolon, it would be worth $11 billion at current list prices.

The deal was listed earlier this year during the 2017 Paris Air Show, described then as a memorandum of understanding between Avolon and Boeing. The Dublin-based buyer currently owns 915 aircraft it leases to operators, which is described as the “youngest owned” fleets, and all its orders are for “new technology” aircraft.

The jets to be supplied are 55 737 MAX 8 aircraft, 20 MAX 10s, and the options are for 20 additional MAX 8s. The 737 MAX the fourth generation of Boeing’s narrow-body aircraft series, which made its commercial debut earlier this year. The new design is powered by the CFM International LEAP-1B turbofan engine, and multiple aerodynamic revisions and airframe modifications from the previous 737 aircraft design.

The 737 MAX is offered in four design variants, the 737 MAX 7, MAX 8, MAX 9 and the stretched MAX 10. The aircraft is designed to carry 138 to 230 passengers for a 3,200-3,800 nmi (5,950-7,100 km) range.

Boeing has drawn more than 4,000 orders for the 737 MAX, from 92 customers, since it launched the program in 2011. The OEM calls it “the fastest-selling airplane in Boeing history.

Claiming the order will strengthen Avolon's global standing as a commercial aircraft lessor, CEO Dómhnal Slattery noted the firm has "experienced strong interest in our initial MAX orders and this incremental order reflects this demand. With over 140 MAX aircraft now in our owned and committed fleet, we are confident that the superior economics and solid reliability of the 737 MAX family of airplanes will continue to allow our customers to grow their businesses profitably for many years to come."

Latest from News

Pratt & Whitney
Liujunrong | Dreamstime
Dmitry Kalinovsky | Dreamstime
Spirit AeroSystems
Ford / Rudolph Libbe Group