Aircraft leasing company Avolon has placed a firm order for 140 Boeing 737 MAX jets, the Irish company announced on Friday, October 9. The agreement is part of a larger transaction involving 250 aircraft from Boeing and Airbus.
Avolon did not specify which 737 MAX variants are included in the new order or provide a delivery schedule. The purchase remains subject to approval by the shareholders of Bohai Leasing, the Chinese company that owns 70% of Avolon. A decision is expected before the end of October.
The new agreement substantially increases Avolon's commitments to Boeing's single-aisle aircraft family. The lessor has placed several previous orders for the 737 MAX, including two agreements for 40 aircraft each in 2023.
The first, finalized during the Paris Air Show in June 2023, covered 40 Boeing 737 MAX 8 jets. A second order announced in December included both the 737 MAX 8 and MAX 10, although Boeing did not disclose the number of aircraft assigned to each variant.
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At the time of the December 2023 agreement, Avolon had accumulated orders for more than 110 aircraft from the 737 MAX family.
The latest purchase comes alongside a separate agreement for 110 Airbus aircraft, comprising 75 A320neo family jets and 35 A330neo widebodies. Avolon also secured options for another 100 Airbus aircraft.
Together, the new Boeing and Airbus orders increase the company's firm aircraft commitments to 749 jets.
Avolon reported an owned, managed and committed fleet of 1,092 aircraft at the end of September. Including the new agreements, that figure would reach 1,342 aircraft.
The lessor also reported strong aircraft trading activity during the third quarter. It acquired 10 aircraft and sold 29, with agreements in place to sell another 112 aircraft as of September 30.
During the same period, Avolon placed 28 new aircraft from its existing commitments and executed 84 leasing agreements, extensions and amendments. The company said 89% of its committed deliveries over the next 24 months had already been placed with airline customers.
