Lessor Avolon has placed an order with Boeing for forty MAX aircraft, it said on April 27. The aircraft will be delivered between 2027 and 2030. Avolon hasn’t specified the variants, but it is likely that the contract offers options to select different types. The order is subject to approval from shareholder Bohai Leasing, but this is anticipated before the end of May. Lessor Avolon orders forty Boeing MAX.
The Dublin-based lessor placed its first MAX order for twelve aircraft in 2012, followed by another five in 2014, 75 in 2017, and five in December 2022, according to Boeing data. In April 2020, Avolon canceled the order for 75 aircraft, plus commitments for another 27 in July of that same year. Boeing data shows that there are 31 unfilled MAX orders left.
Avolon CEO Andy Cronin says in a media statement: “This commitment with Boeing underlines our confidence in the positive momentum in the aviation market, and increases our portfolio of young, modern, fuel-efficient aircraft. With strong demand for our new technology orderbook, and delivery slots at a premium, it strengthens and extends our delivery profile with Boeing. This commitment will also support our airline customers who are looking to plan beyond the robust post-Covid traffic recovery and prepare for future growth, while also reducing their carbon emissions.”
Avolon reported an adjusted net income for Q1 of $56 million compared to $80 million last year. Lease revenues totaled $599 million, down from $658 million. The lessor concluded 31 lease transactions and delivered nine new and transitioned another nine aircraft to thirteen customers. It signed letters of intent for sale and leasebacks of twelve aircraft.
The owned and managed fleet comprised of 578 aircraft, with orders and commitments for 252. Including the forty MAX, this brings the total fleet to 870 aircraft.
