Owned, managed committed fleet to increase to 925 aircraft
MOU includes option for a further 50 737 MAX aircraft
Avolon, the international aircraft leasing company, today announced it has signed a memorandum of understanding ("MOU") for 75 Boeing 737 MAX 8 aircraft at the Paris Air Show. The MOU also includes an option for a further 50 Boeing 737 MAX 8 aircraft.
Today's order builds on Avolon's existing orders and commitments for new technology, fuel-efficient single-aisle aircraft. Avolon's owned, managed and committed fleet will increase to 925 aircraft.
In May 2017, Avolon delivered the world's first Boeing 737 MAX 8 aircraft to Malindo Air.
- MOU for 75 Boeing 737 MAX aircraft valued at US$8.4 billion at current list prices with an option for a further 50 aircraft.
- Represents Avolon's largest aircraft order with Boeing Co. to date.
- Aircraft scheduled for delivery from 2021 onwards.
Pro-forma fleet as of 31 March 2017
- Avolon's total orders commitments will increase to 360 aircraft including 352 new technology aircraft.
- New technology orders and commitments will now include 136 Boeing 737 MAX aircraft together with 23 Boeing B787-9 aircraft.
- Avolon's owned, managed committed fleet will increase to 925 aircraft.
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. Our strategy is to maintain an industry leading portfolio of young, modern and fuel efficient aircraft. We were pleased to deliver the world's first ever 737 MAX 8 this year and the addition of a further 75 Boeing 737 MAX aircraft reflects our commitment to our customers to have a product offering built around the most technically advanced and efficient aircraft available in the market."
Kevin McAllister, Boeing Commercial Airplanes President and CEO, commented: "We are honored to partner with Avolon for new 737 MAX airplanes as they look to strengthen their position as one of the world's premier commercial airplane lessors. 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."
About the Boeing 737 MAX
The 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is a wholly-owned, indirect subsidiary of Bohai Capital Holding Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415). 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.
Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. Boeing has a long tradition of aerospace leadership and innovation and continues to expand its product line and services to meet emerging customer needs. With corporate offices in Chicago, Boeing supports airlines and U.S. and allied government customers in 150 countries and employs approximately 150,000 people across the United States and in more than 65 countries around the world. For information on Boeing, please visit www.boeing.com.
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