Dublin lessor could buy up to 95 aircraft from Boeing in €9bn deal

Avolon has ordered 75 planes from US manufacturer with options to take 20 more

The order is  worth almost €9.3bn at list prices, says Boeing. Photograph: Matt Mills McKnight/Reuters

The order is worth almost €9.3bn at list prices, says Boeing. Photograph: Matt Mills McKnight/Reuters

 

Irish aviation financier Avolon could buy up to 95 new craft from Boeing in a deal worth more than €9 billion at published prices.

Boeing confirmed early on Monday that Avolon had ordered 75 of its new 737 Max model from the US manufacturer, with options to take 20 more should it need them.

The order for 75 craft and the option to take a further 20 combined are worth almost $11 billion (€9.3 billion) at list prices, Boeing said.

The deal includes an order for 55 of Boeing’s newly launched 737 Max 10s, which the US giant says will have the lowest costs per mile of any single-aisle craft.

Avolon buys aircraft from manufacturers and leases them to airlines.

Leading position

Its chief executive, Dómhnal Slattery, said the order would strengthen the Irish company’s leading position in its business.

“This is the largest single order that we have placed with Boeing to date and underscores the scale of our ambition and the strength of our business,” he added.

He noted that Avolon’s clients had expressed strong interest in its previous 737 Max orders.

The 737 Max is the fastest-selling aircraft in Boeing’s history – 92 customers have ordered more than 4,000 of this model from the Seattle, Washington-based manufacturer.

Avolon owned, managed or had committed to deliver a total of 915 aircraft by the end of September. The company says it has the youngest owned fleet among the world’s top three lessors.

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