Irish company Avolon, one of the world’s largest commercial aircraft lessors, today confirmed its commitment to purchase forty Boeing 737 MAX aircraft for delivery between 2027 and 2030. At current list price, the order would be valued at more than 4 billion dollars.
The transaction is subject to the approval of the shareholders of Bohai Leasing, which owns 70% of Avolon. This is expected to be finalised before the end of May.
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Avolon to strengthen its Boeing 737 MAX aircraft portfolio
The new order will give Avolon a fleet of 870 aircraft, including owned, managed and committed to various operators. «This commitment builds on our strong relationship with Boeing and demonstrates our confidence in the long-term demand for this aircraft type», the company said in a press release.
«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, Avolon’s CEO.
The executive also noted that the order will aim to support its customers’ need to modernise their assets and sustain growth through the addition of more efficient and cleaner aircraft.
A long-standing Boeing customer
The Dublin-based company is a major customer of the American manufacturer, although their relationship was not without tension: in May 2022, Avolon’s then CEO Domhnal Slattery declared that Boeing had «lost its way». The lessor had cancelled orders for more than a hundred 737 MAX during the pandemic. That all seems to be behind it now.
Avolon completed 31 leases during the first quarter of this year, including new contracts, renewals and extensions. In that period, it delivered a total of nine new airplanes to thirteen customers.
