Boeing and Avolon, the international aircraft leasing company, have finalised an order for 75 737 MAX airplanes.
The confirmed order is for 55 MAX 8s and 20 MAX 10s, with options for 20 additional MAX 8s.
The agreement, announced as a memorandum of understanding at the 2017 Paris Air Show, is valued at nearly $11 billion at list prices including the 75 firm and 20 option aircraft.
Launched at the 2017 Paris Air Show, the MAX 10 will have the lowest seat-mile cost of any single-aisle airplane.
The new airplanes will bolster Avolon’s airplane portfolio to meet growing customer demand in the narrow-body market segment.
“The order for Boeing’s newest 737 MAX airplanes will strengthen Avolon’s position as a leading lessor in the global commercial aviation market,” said Avolon chief executive, Dómhnal Slattery.
“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.
“We have experienced strong interest in our initial MAX orders and this incremental order reflects this demand.
“With over 140 MAX aircraft now in our owned and committed fleet, we are confident that the superior economics and solid reliability of the 737 MAX family of airplanes will continue to allow our customers to grow their businesses profitably for many years to come.”
Headquartered in Dublin, Ireland, Avolon is one of the world’s leading aircraft leasing firms, with an owned, managed and committed fleet of 915 aircraft as of September 30th, 2017.
The 737 MAX is the fastest-selling airplane in Boeing history, having surpassed 4,000 total orders from 92 customers.