April 28 2023  |  Airline & Terminal News

Avolon orders 40 737 Max aircraft

By Reedah Hayder

The addition of 40 new 737 MAX aircraft will increase Avolon's fleet to a total of 870

International aircraft leasing company Avolon today announced its commitment to order 40 737 MAX aircraft. The delivery of these aircraft is slated for the years 2027 through 2030, and they are estimated to be worth more than $4 billion according to current list prices.

“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. With strong demand for our new technology order book, and delivery slots at a premium, it strengthens and extends our delivery profile with Boeing,” said, Andy Cronin, CEO of Avolon, in an April 27 press release. “This commitment will also support our airline customers who are looking to plan beyond the robust post-Covid traffic recovery and prepare for future growth, while also reducing their carbon emissions.”

The company marked a significant achievement earlier this year by delivering its 1000th 737 MAX, following the delivery of its first one in 2017. The order highlights Avolon’s steadfast partnership with Boeing, as well as the company’s confidence in the continued demand for this aircraft model in the future. This undertaking will increase the company’s owned, managed and committed fleet to a total of 870 aircraft.

Avolon is committed to enhancing the proportion of fuel-efficient aircraft in its fleet and has chosen the 737 MAX to provide its clients with increased network flexibility. With a reduction in fuel consumption and emissions of up to 20 percent, the 737 MAX outperforms the aircraft it will replace. This is made possible through the use of cutting-edge technology such as CFM International LEAP-1B engines and advanced technology winglets.

The order’s approval solely depends on the shareholders of Bohai Leasing Co., Ltd., who own 70 percent of Avolon, and is expected to take place by the end of May.

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