Avolon Boeing

Irish aircraft leasing firm Avolon has finalised a firm order for ten Boeing 737 MAX 8s, five 737 MAX 9s and ten Next-Generation 737-800s aircraft.

With a current list-price value of $2.4bn, the order was first announced by Avolon at the UK’s Farnborough Airshow in July.

Boeing Commercial Airplanes Leasing Sales vice president Bill Collins said the Next-Generation 737 was a reliable commercial jet transport and the 737 MAX further built on this efficiency and reliability.

"This order reinforces the value of the 737 MAX in today’s aviation finance marketplace," Collins added.

Delivery of the first 737 MAX is expected to begin by the fourth quarter of 2017. With this latest order, Boeing currently has received 664 orders for 737 MAX from seven customers.

"This order reinforces the value of the 737 MAX in today’s aviation finance marketplace."

The 737 MAX features the CFM International LEAP-1B engines, offers a 13% improvement in fuel usage compared with other fuel efficient single-aisle aircraft and an 8% operating cost per seat advantage in the future too.

Avolon president and chief commercial officer John Higgins said the company’s customers were always looking for more fuel-efficient aircraft and 737 MAX will provide fuel efficiency and operating economics needed by airlines.

"The 737 MAX is in high demand worldwide and securing valuable, attractive positions early in the MAX programme ideally positions Avolon to best serve our growing global customer base," Higgins said.

Serving 34 customers in over 20 countries, Avolon operates a fleet of 164 aircraft, which include Airbus A320, A320 neo and A330 lines; Boeing 737NG, 737 MAX, 777 and 787 ranges; in addition to the Embraer 190 line.

Image: The firm order for 25 Boeing aircraft was first announced as a commitment by Avolon at the UK’s Farnborough Airshow in July 2012. Photo: courtesy of Boeing.