Lessor chooses Boeing to launch aviation leasing business, joins 737 MAX 10 launch customer group
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing [NYSE:BA] and Tibet Financial Leasing today signed a Memorandum of Understanding (MOU) for 20 737 MAX airplanes at the 2017 Paris Air Show. The airplanes, including 737 MAX 10 and 737 MAX 8 airplanes, are valued at approximately $2.5 billion at current list prices.
"Our intention to purchase the 737 MAX reflects the strong customer feedback we have received," said Wang Yanjun, President of Tibet Financial Leasing. "It is natural to start our aviation leasing business with the fastest-selling airplane in Boeing history. We are confident that our customers will be satisfied with the efficiency, economics, flexibility and passenger comfort that the 737 MAX promises to deliver."
Tibet Financial Leasing was established as the first financial leasing company in Tibet Autonomous Region in 2015, with approval from China Banking Regulatory Commission. Tibet Financial Leasing is registered in Lhasa Economic and Technological Development Zone. The existing registered equity capital of Tibet Financial Leasing is RMB 3 billion.
"We are delighted to welcome Tibet Financial Leasing as a new Boeing customer and a launch customer of the newest 737 MAX family member," said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. "As leasing companies are playing an increasingly important role in the world's aviation sector, we are proud to support Tibet Financial Leasing's takeoff and future expansion."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market. The MAX 8 and 9 will be followed in 2019 by the introduction of a smaller, long-range MAX 7 and a 200-seat 737 MAX 8. The MAX 10 will be introduced in the 2020 time frame.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing [NYSE:BA] and Tibet Financial Leasing today signed a Memorandum of Understanding (MOU) for 20 737 MAX airplanes at the 2017 Paris Air Show. The airplanes, including 737 MAX 10 and 737 MAX 8 airplanes, are valued at approximately $2.5 billion at current list prices.
"Our intention to purchase the 737 MAX reflects the strong customer feedback we have received," said Wang Yanjun, President of Tibet Financial Leasing. "It is natural to start our aviation leasing business with the fastest-selling airplane in Boeing history. We are confident that our customers will be satisfied with the efficiency, economics, flexibility and passenger comfort that the 737 MAX promises to deliver."
Tibet Financial Leasing was established as the first financial leasing company in Tibet Autonomous Region in 2015, with approval from China Banking Regulatory Commission. Tibet Financial Leasing is registered in Lhasa Economic and Technological Development Zone. The existing registered equity capital of Tibet Financial Leasing is RMB 3 billion.
"We are delighted to welcome Tibet Financial Leasing as a new Boeing customer and a launch customer of the newest 737 MAX family member," said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. "As leasing companies are playing an increasingly important role in the world's aviation sector, we are proud to support Tibet Financial Leasing's takeoff and future expansion."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market. The MAX 8 and 9 will be followed in 2019 by the introduction of a smaller, long-range MAX 7 and a 200-seat 737 MAX 8. The MAX 10 will be introduced in the 2020 time frame.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
Boeing, SpiceJet Announce Commitment for 40 737 MAX airplanes
Agreement includes 20 new 737 MAX 10s, 20 conversions to 737 MAX 10s from airline's existing 737 MAX 8 order book
SpiceJet joins 737 MAX 10 launch customer group
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing [NYSE:BA] and SpiceJet today signed a memorandum of understanding for 40 737 MAX airplanes. The agreement, valued at $4.7 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carrier's 737 MAX 8 airplanes from its existing order to 737 MAX 10s.
The order will be posted to the Boeing Orders & Deliveries website once finalized.
"As a Boeing 737 operator and current customer of the 737 MAX, we are proud to be a part of the launch of the 737 MAX 10 and to be the first airline in India to order the newest version of the 737, which will enable us to maximize revenue on our dense routes while having a lower unit seat cost," said Ajay Singh, Chairman and Managing Director, SpiceJet. "With the introduction of our 737 MAXs next year, we will be able to further expand our network, while keeping our costs low for our customers."
SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.
"SpiceJet continues to be an aviation leader and strong Boeing partner, and we are honored to have them join 737 MAX 10 launch group," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "The additional 20 737 MAX 8s and capacity provided by these 20 new 737 MAX 10s will allow SpiceJet to offer even more passengers their award-winning on-board experience, while the airplane's efficiency will keep SpiceJet profitable."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
Boeing, Monarch Announce 737 MAX Services Agreements and New Engineering Joint Venture Partnership
SpiceJet joins 737 MAX 10 launch customer group
The order will be posted to the Boeing Orders & Deliveries website once finalized.
"As a Boeing 737 operator and current customer of the 737 MAX, we are proud to be a part of the launch of the 737 MAX 10 and to be the first airline in India to order the newest version of the 737, which will enable us to maximize revenue on our dense routes while having a lower unit seat cost," said Ajay Singh, Chairman and Managing Director, SpiceJet. "With the introduction of our 737 MAXs next year, we will be able to further expand our network, while keeping our costs low for our customers."
SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.
"SpiceJet continues to be an aviation leader and strong Boeing partner, and we are honored to have them join 737 MAX 10 launch group," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "The additional 20 737 MAX 8s and capacity provided by these 20 new 737 MAX 10s will allow SpiceJet to offer even more passengers their award-winning on-board experience, while the airplane's efficiency will keep SpiceJet profitable."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
Boeing, Monarch Announce 737 MAX Services Agreements and New Engineering Joint Venture Partnership
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing (NYSE: BA) and Monarch Airlines today announced that the UK carrier has selected Boeing's Global Fleet Care — formerly known as GoldCare — for its entire 737 MAX fleet.
Through Global Fleet Care's Integrated Fleet Solution, Boeing will deliver maintenance, engineering and parts required to run Monarch's MAX operations following the delivery of its first airplane in 2018.
Monarch has also selected Boeing as its flight training provider for its 737 MAX fleet and will be entering into an agreement with Boeing subsidiary AerData for services pertaining to aircraft records management.
The two companies have also reached an agreement to collaborate on securing additional third-party fleet servicing agreements. The partnership will seek to capitalize on Boeing's strength and reach within the industry and the expertise of Monarch Aircraft Engineering (MAEL), which has been providing maintenance, repair and overhaul services to some of the world's best-known airlines for 50 years.
Boeing and Monarch also announced an order for 15 additional 737 MAX 8s. Valued at $1.7 billion at current list prices, the order will grow Monarch's 737 MAX fleet from 30 to 45 airplanes.
The order was previously attributed to unidentified customers on the Boeing Orders & Deliveries website. Monarch has confirmed the 15 options and has agreed with a lessor for them to take 13 aircraft for lease back to Monarch.
"This is a momentous day for our business," said Monarch's CEO Andrew Swaffield. "The decision to exercise our option for an additional 15 737 Max 8 aircraft is a clear illustration of confidence in Monarch's future success. By the end of 2022, Monarch will have a completely new, modern fleet which will transform both the airline and the customer experience. The highly fuel-efficient fleet will also help Monarch reduce its environmental impact and add £100m-a-year to our bottom line from lower fuel and servicing costs. Furthermore, Boeing's willingness to partner with us to grow our maintenance and repair business is a tremendous endorsement of Monarch's expertise and experience in this area."
"Boeing is committed to providing our customers with services solutions that meet their unique needs," said Stan Deal, President and CEO of Boeing Global Services. "It is our goal to provide the best customer service experience in the aerospace industry through programs, products and services such as Boeing Global Fleet Care."
Tailored to the individual airline, Boeing Global Fleet Care provides a high-value, low-risk and efficient fleet maintenance operations that gives customers a competitive advantage in the marketplace. Boeing provides support for more than 60 customers and more than 2,200 airplanes through its Global Fleet Care program.
Founded in 1968 and headquartered at London Luton Airport, Monarch also operates from four other U.K. bases – London Gatwick, Manchester, Birmingham and Leeds-Bradford. Monarch serves over 40 holiday destinations around the Mediterranean and the Canary Islands as well as European cities and ski resorts.
"This 737 MAX 10 order further enhances our fleet with the newest technology, offering our customers commonality along with increased range and available seating," said Alec Burger, President and Chief Executive Officer of GECAS. "Combining the increased capacity of the 737 MAX 10 and the CFM International LEAP-1B engines offers our customers many benefits."
GECAS has 170 737 MAX airplanes on order, the largest of any aircraft leasing company.
"Simply put, the 737 MAX 10 will be the most profitable airplane the single-aisle sector has ever seen," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "GECAS understands the benefits the 737 MAX 10 will bring to its customers across the globe. We appreciate their continued confidence in the 737 MAX family."
Like all of Boeing's 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, the Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
About GE Capital Aviation Services (GECAS)
GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. With 50 years of aviation finance experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of over 1,950 aircraft (1,660 fixed wing/306 rotary wing) in operation or on order, plus provides loans collateralized on an additional 400 aircraft. GECAS serves 264 customers in over 75 countries from a network of 26 offices. gecas.com
With this commitment, valued at $7.4 billion at list prices, CDB Aviation will become one of the launch customers for the 737 MAX 10, the newest member of Boeing's 737 MAX family.
Included in this agreement is the conversion of six 737 MAX 8 orders to the new 737 MAX 10s by the lessor from a previous order.
The agreement will be reflected on the Boeing Orders and Deliveries website once finalized.
"Our new vision is to propel CDB Aviation into a formidable global aviation leasing platform," said Peter Chang, President and Chief Executive Officer, CDB Aviation. "The 737 MAX, the fastest-selling airplane in Boeing history, and the cutting-edge 787 Dreamliner will play a key role in bolstering our fleet and advancing our global market presence to fulfill the vision."
Based in Dublin, Ireland, CDB Aviation operates as a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., LTD (CDB Leasing) (HKEX stock code:1606). With a committed fleet of over 300 aircraft, CDB Aviation has over 10 years' experience in the business and is one of the largest and most influential Chinese-owned aviation leasing companies.
"We are honored to bring our enduring partnership with CDB Aviation to a new level, with the new commitment for additional Boeing single-aisle and widebody airplanes to meet the needs of their customers," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "This further demonstrates the popularity of our latest, fuel efficient 737 MAX and 787 airplane models."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
The Boeing 787 Dreamliner is a family of super-efficient airplanes with new passenger-pleasing features that bring the economics of large jet transports to the middle of the market. Since entering service in 2011, the 787 family has flown more than 167.6 million people on more than 610 unique routes around the world, saving an estimated 15.6 billion pounds of fuel.
Boeing, AerCap Announce Order for 30 787-9 Dreamliners
Boeing, AerCap Announce Order for 30 787-9 Dreamliners
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing [NYSE: BA] and AerCap today announced an order for 30 787-9 Dreamliners at the 2017 Paris Air Show. The agreement, valued at $8.1 billion at list prices, makes AerCap the largest customer for the 787 Dreamliner.
"The addition of these 30 Boeing 787 aircraft to our portfolio makes us the world's largest owner of 787 Dreamliner," said AerCap CEO Aengus Kelly. "This strengthens our ambition to satisfy our customers' demand for an aircraft they truly value due to its economics, operating efficiencies and high levels of in-cabin comfort and innovation."
AerCap has taken delivery of 55 787s, and now after this order will have a further 67 787s on backlog, including sale leasebacks.
"AerCap understands the value proposition the 787 brings to its airline customers," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "We appreciate their continued confidence in the Dreamliner, and we're excited to have them become the largest 787 customer in the world."
The Boeing 787 Dreamliner is a family of super-efficient airplanes with new passenger-pleasing features that bring the economics of large jet transports to the middle of the market. The 787-9 complements and extends the 787 family. With the fuselage stretched by 6 meters (20 feet) over the 787-8, the 787-9 flies up to 45 more passengers, an additional 520 kilometers (280 nautical miles) with the same exceptional environmental performance – 20 percent less fuel use and 20 percent fewer emissions than the airplanes they replace.
Boeing, ALAFCO Announce Commitment for 20 737 MAX 8s
LE BOURGET, France, June 19, 2017 /PRNewswire/ -- Boeing [NYSE: BA] and Kuwait-based ALAFCO Aviation Lease and Finance Company (ALAFCO) announced a commitment for 20 737 MAX 8s at the 2017 Paris Airshow, valued at $2.2 billion at current list prices.
ALAFCO, a global provider of commercial aircraft leasing products, already has unfilled orders for 20 737 MAX airplanes and was also one of the first Middle East customers for the 787 Dreamliner. The new commitment when finalized, will boost the lessor's order to 40 737 MAXs.
"As a lessor, we are committed to provide our global customer base with technologically-advanced aircraft," said Ahmad Alzabin, chief executive officer and vice-chairman, ALAFCO. "Fuel efficiency, operational reliability and efficiency are key factors for our airline customers and the 737 MAX will help us meet those demands in the single-aisle market."
The 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
"ALAFCO's commitment to purchase 20 more 737 MAXs is an excellent endorsement of the aircraft which is already the fastest-selling airplane in Boeing history," said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. "We are very pleased with this opportunity to help expand ALAFCO's single-aisle portfolio with the 737 MAX and look forward to strengthening and growing this partnership even further."
The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
Boeing, Azerbaijan Airlines Announce Commitment for Four 787 Dreamliners
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