Boeing secures deal for 40 B737-8 Jets with Avolon, strengthening 737 MAX portfolio
Boeing, an aircraft manufacturing company based in the United States of America, has signed a deal for the supply of 40 B737-8 to Avolon, an Ireland-based aircraft lessor.
This strategic move is aimed at expanding Avolon’s 737 MAX portfolio, which currently includes both 737-8 and 737-10 variants, to surpass 110 jets.
Notably, Avolon had previously ordered 40 737-8s in June.
The finalisation of this new order is contingent on receiving shareholder approval from Bohai Leasing Co, Ltd, the primary shareholder of Avolon.
Once approved, the order will be officially posted on Boeing’s Orders and Deliveries website.
Andy Cronin, Avolon’s CEO, expressed confidence in the aviation sector’s future outlook, stating that the order aligns with their optimism and reinforces their capacity to meet customer demands in aircraft deliveries up to 2030, a period marked by limited aircraft availability.
Cronin highlighted the significance of the order, stating, “Avolon has been a long-standing supporter of the 737 MAX platform.”
He underscored the company’s commitment to environmentally conscious practices, noting the order’s contribution to their goal of transforming the fleet with 80 new, fuel-efficient 737 MAX airplanes this year. Avolon aims to reduce emissions and enhance its fleet’s environmental efficiency.
“Today’s order reflects our continuing optimism in the outlook for the aviation sector and strengthens our ability to meet customer needs in delivery slots out to 2030 when the availability of aircraft is very limited,” said Avolon CEO Andy Cronin.
“We have now committed to 80 new, fuel-efficient 737 MAX airplanes this year, supporting the transformation of our fleet to lower emissions airplanes.
“Avolon has been a long-standing supporter of the 737 MAX platform, delivering the 1000th 737 MAX produced earlier this year and the first ever 737 MAX in 2017. It is a pleasure to partner again with Boeing on this new order,” Cronin added.
The 737 MAX is recognised for offering greater flexibility across Avolon’s network while achieving up to a 20% reduction in fuel use and emissions.
Each aircraft, on average, is expected to save up to 8 million pounds of CO2 annually compared to its predecessor.
Brad McMullen, Boeing’s Senior Vice President of Commercial Sales and Marketing, underscored the sustained demand for single-aisle aircraft, stressing Boeing’s readiness to support lessors in expanding their portfolios with fuel-efficient jets capable of operating across diverse route networks.
“With long-term travel demand expected to remain strong, we are ready to support lessors looking to increase their single-aisle portfolios with fuel-efficient jets capable of operating across various route networks,” said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing.
“Avolon continues to be a significant and much valued customer for the 737 program. This repeat order, in the same year, demonstrates its confidence in the 737-8 and the value the airplane brings to its customers.”
The 737-8, capable of seating 162 to 210 passengers depending on configuration and boasting a range of up to 3,500 nautical miles, stands out as the market’s most versatile single-aisle airplane, suitable for profitable operations on short- and medium-haul routes.
Avolon, a global aviation finance company, collaborates with 147 airlines in 65 countries and manages a fleet of 897 aircraft as of September 30, 2023.
Boeing, as a leading aerospace company, engages in the development, manufacturing, and servicing of commercial airplanes, defense products, and space systems for customers worldwide, fostering economic opportunity, sustainability, and community impact.
