BOC Aviation Adds 40 Boeing 737 MAX 8 To Its Orders

The aircraft lessor’s total order book for the Boeing 737 MAX 8 will tally at 80 aircraft.

Aircraft leasing company BOC Aviation has just announced the future growth of its Boeing narrowbody portfolio with a significant order for 40 additional 737 MAX 8 jets. With the new order, the aircraft lessor is advancing its strategy of purchasing new-generation, fuel-efficient, environmentally sustainable aircraft as air travel continues to recover.

Narrowbody jets are in high demand

While airlines have been pushing to recover to pre-pandemic levels this year, the demand for newer, more fuel-efficient aircraft was consistently high. Unfortunately, supply chain disruptions made deliveries from aircraft manufacturers such as Airbus and Boeing slightly slower than expected, which is where the aircraft lessors such as BOC Aviation stepped in.

As of September 30th this year, the Singapore-based aircraft lessor’s owned and managed fleet was leased to 81 airlines in 38 countries and regions worldwide. Of these 81 airlines, Turkish Airlines was one recipient of the Boeing 737 MAX 8 and received seven of the narrowbody jet from May to August.

And the demand for the narrowbody kept growing, as another airline that’ll soon join the aircraft lessor’s customer list is Canadian startup carrier Lynx Airlines. BOC Aviation had already placed an order for 11 Boeing 737 MAX 8 earlier this year, which would be leased out to the Canadian carrier within the next two years.

With the newest incremental order for 40 narrowbody jets, the aircraft lessor’s total order book for the Boeing 737 MAX 8 will tally at 80 aircraft and will be delivered from 2023 to 2028, as confirmed by David Walton, Deputy Managing Director and Chief Operating officer:

“We are pleased to continue to build on our existing relationship with Boeing with this 40-aircraft total order for the fuel-efficient Boeing 737 MAX 8 aircraft. We look forward to continuing to provide one of the industry’s most technologically advanced aircraft for delivery on lease to our airline customers, to support their sustainable growth over the balance of this decade.”

A good year for Boeing

From the smaller orders from aircraft lessors such as Air Lease Corporation to the larger orders from airlines such as United Airlines, WestJet, and Delta Air Lines, Boeing has had quite a positive year. And although it’s not particularly large, an additional order is still good news for the aircraft manufacturer as the year ends, especially since the number of new orders fell slightly in November.

However, Boeing might likely either end this year or start the next exceptionally well as the manufacturer expects a significantly large order from Air India. The flag carrier has been in discussions with Airbus and Boeing concerning its massive fleet renewal and expansion, and the large order could potentially involve approximately 500 aircraft.

Of the approximate total, roughly 190 are expected to be the Boeing 737 MAX 8 designated for the low-cost subsidiary, Air India Express. And concerning the widebody order possibilities, about 30 from the massive order are expected to be the Boeing 787 Dreamliners for Air India. There could be a possibility for the Boeing 777X, although no estimated numbers exist.

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  Boeing

  Stock Code:

  BA

  Date Founded:

  1916-07-15

  CEO:

  Dave Calhoun

  Headquarters Location:

  Chicago, USA

  Key Product Lines:

  Boeing 737, Boeing 747, Boeing 757, Boeing 767, Boeing 777, Boeing 787

  Business Type:

  Planemaker