Over the weekend Boeing and leasing company Avolon seem to have finalized an order for 75 737 MAX aircraft. The deal is broken down to 55 MAX 8s and 20 MAX 10s and options for a further 20 MAX 8s.
The agreement, announced as a memorandum of understanding at the 2017 Paris Air Show, is valued at nearly $11 billion at list prices including the 75 firm and 20 option aircraft.
"Today's order for Boeing's newest 737 MAX aeroplanes will strengthen Avolon's position as a leading lessor in the global commercial aviation market," said Avolon CEO, Dรณmhnal Slattery. "This is the largest single order that we have placed with Boeing to date and underscores the scale of our ambition and the strength of our business. We have 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 aeroplanes will continue to allow our customers to grow their businesses profitably for many years to come."
Headquartered in Dublin, Ireland, Avolon is one of the world's leading aircraft leasing firms, with an owned, managed and committed fleet of 915 aircraft as of September 30, 2017. Avolon also has the youngest owned fleet amongst the top three lessors and an order book of exclusively new technology aircraft.
"Today's order solidifies Avolon's commitment to providing their customers with the most efficient, technologically advanced aeroplane on the market," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "We are honoured that the 737 MAX family of aeroplanes will become a key part of Avolon's world-class fleet as they look to leverage the surging demand for narrow-body aeroplanes in markets around the world."
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