Avolon, one of the world’s largest aircraft leasing companies, has announced that it has reached an agreement with Boeing to purchase 40 737 MAX airplanes for over $4 billion at current list prices. The newly purchased planes are expected to be delivered between 2027 and 2030 and will increase the size of Avolon’s owned, managed, and committed fleet to 870 aircraft.
Andy Cronin, the CEO of Avolon, stated that the commitment to purchase 40 Boeing 737 MAX planes demonstrates the company’s confidence in the aviation sector’s long-term outlook. The deal will not only support Avolon’s airline customers in planning for future growth beyond the COVID-19 pandemic but also help reduce their carbon emissions.