07 September, 2023

Aviation Capital Group completes deal for 13 Boeing 737 MAX Jets

Plane maker Boeing and aircraft leasing giant Aviation Capital Group have completed negotiations for 13 737 MAX jets, increasing the lessor’s order book to 47 737 MAXs aircraft.

The new, incremental order includes seven 737- MAX 8 and six 737- MAX 10 jets as ACG grows its single-aisle options to meet robust customer demand for the fuel-efficient 737 MAX airplane family.

Steven Udvar-Hazy, Senior Vice President and Chief of Aircraft Operations at ACG. “We are pleased to expand ACG’s commitment to the 737 MAX programme. This additional order will allow ACG to offer highly fuel efficient and versatile aircraft to our airline customers worldwide,”

Boeing advises that the 737- MAX 8 can carry up to 210 passengers based on configuration with a range of 3,500 nautical miles, while the 737- MAX 10, the largest 737 MAX model, seats up to 230 passengers with a range of 3,100 nautical miles. Both variants can reduce fuel use and carbon emissions by 20% compared to the earlier Boeing aircraft they replace.

“ACG’s growing and diverse 737 MAX portfolio allows its customers to operate a more sustainable, efficient fleet,” said Christy Reese, vice president of Global Leasing Commercial Sales & Marketing, Boeing Commercial Airplanes. “We look forward to helping ACG deliver the most fuel-efficient airplanes in the industry to its airline partners.”

Aviation Capital Group is one of the world’s premier full-service aircraft asset managers with over 480 owned, managed and committed aircraft as of June 30, 2023, leased to roughly 90 airlines in approximately 45 countries. It was founded in 1989 and is a wholly owned subsidiary of Tokyo Century Corporation. 

Boeing's MAX aircraft were grounded worldwide between March 2019 and January 2021 after 346 people died in two crashes of the type. The U.S. Federal Aviation Administration was the last major aviation regulator to ground the type following the Lion Air Flight 610 on 29 October 2018 and Ethiopian Airlines Flight 302 on 10th March 10, 2019, crashes. These disasters were caused largely by a flaws in its new Maneuvering Characteristics Augmentation System (MCAS). Since then, a series of other design, production and safety issues have caused delays to the programme.