Boeing [NYSE: BA] and BOC Aviation have announced a new, firm order for 50 737-8 jets, expanding the lessor's 737 MAX portfolio to 215 737-8s and 737-9s.
- BOC Aviation will increase its Boeing order book to 139 unfilled orders.
- BOC Aviation currently has 69 737 MAX airplanes on operating leases to more than 15 airlines worldwide.
"Our strong partnership with Boeing has led to this 50-aircraft order for the fuel-efficient Boeing 737-8 aircraft. With this transaction, we have commitments to purchase over 140 of these aircraft, which is the largest Boeing orderbook position in our history," said Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation. "This order will enable us to continue providing our airline customers with technologically advanced aircraft for their future fleet growth."
With single-aisle jets projected to account for 75% of global deliveries over the next 20 years, lessors are looking to build their order books to support airlines' fleet growth plans and replace less-efficient older jets. To date, lessors have ordered more than 1,200 737 MAX jets as they seek to replace up to 300 Next-Generation 737s per year that are set to retire from passenger operations by the end of the decade.
"BOC Aviation's latest investment in the 737-8 demonstrates the confidence lessors have in this airplane to meet continued air travel demand and improve fuel efficiency," said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. "The 737-8 is much sought after by airlines due to its unmatched versatility, generating significant operational savings because of lower fuel consumption."
The 737-8, seating 162 to 210 passengers depending on configuration and with a range of up to 3,500 nautical miles (6,480 km), is the market's most versatile single-aisle airplane, capable of operating profitably on short- and medium-haul routes.
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