This expanded order will further enhance Avolon’s 737 MAX portfolio. Their portfolio already includes the 737-8 and 737-10 variants. This order brings Avolon’s total to over 110 jets.
The new order still awaits shareholder approval from Bohai Leasing Co, Ltd, Avolon’s main shareholder. Once the approval is secured, the order will be officially recorded on Boeing’s Orders and Deliveries website.
Avolon: Continuing Optimism for The Aviation Sector
“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.”
Long-Term Travel Demand Expected to Remain Strong
“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.”
Advantages of 737 MAX
The 737 MAX provides Avolon’s customers greater flexibility across their network. It also reduces fuel use and emissions by up to 20%. On average, each airplane will save up to 8 million pounds of CO2 annually compared to the airplanes it replaces.
The 737-8 seats 162 to 210 passengers, depending on configuration, with a range of up to 3,500 nautical miles. It is a versatile single-aisle airplane, operating profitably on short- and medium-haul routes.
Avolon Shores-Up Aircraft for Growth
Avolon has been on a single-aisle aircraft buying spree, announcing an order for 100 Airbus A321neos on the same day.
The lessor has added 200 new technology aircraft to its orderbook this year, direct from OEMs. These built on previous orders for 20 Airbus A330neos in September and 40 737 MAXs from Boeing in June. The order book expansion increases Avolon’s owned, managed, and committed fleet from 897 on September 30, 2023 to 1037 aircraft.
The scale of these new commitments supports Avolon’s ability to provide customers with fuel-efficient aircraft into the next decade.
Andy Cronin, CEO of Avolon, commented:
“Today’s orders strengthen our delivery pipeline and reflect our confidence in the long-term outlook for aviation. We have committed to direct orders for 200 new, fuel-efficient aircraft this year, supporting the transformation of our fleet to lower-emissions aircraft. The scale of our orderbook reflects the strength of Avolon’s balance sheet, our proven ability to execute swiftly, and the longstanding relationships we have with both Airbus and Boeing.”