BOC Aviation, an aircraft leasing business, recently announced the expansion of its Boeing narrowbody fleet with a sizable order for 40 more 737 MAX 8 aircraft.
With the new order, the aircraft lessor is advancing its strategy of buying new-generation, fuel-efficient, environmentally sustainable aircraft as air travel continues to recover.
Airbus and Boeing
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 & Boeing slightly slower than expected, which is where the aircraft lessors such as BOC Aviation stepped in.
As of September 30th current year, the Singapore-based aircraft lessor’s owned and managed fleet was hired 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 7 of the narrowbody jet from May to August.
BOC Aviation
And the demand for the narrowbody kept increasing, as another airline that’ll soon possibly join the aircraft lessor’s passengers list is Canadian startup carrier Lynx Airlines.
BOC Aviation had already given an order for 11 Boeing 737 MAX 8 earlier this year, which would be leased out to the Canadian carrier within the next 2 years.
With the newest total order for 40 narrowbody jets, the aircraft lessor’s entire order book for the Boeing 737 MAX 8 will tally at 80 aircraft and will be delivered from the next year 2023 to 2028, as confirmed by David Walton, Deputy Managing Director, Chief Operating officer:
Boeing 737 MAX 8 aircraft
“We are pleased to continue to make 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 1 of the industry’s most technologically advanced aircraft for delivery on lease to our airline passengers, to help their sustainable development over the balance of this decade.”
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 fortunate and very positive year.
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And although it’s not particularly large, an additional order is still good news for the aircraft manufacturer as the year ends, mainly since the number of new orders fell slightly in the last month of November 2022.
However, Boeing might likely either end of the December 2022 or next year January 2023 the next exceptionally well as the manufacturer expects a significantly large order from Air India.
The flag carrier has been in talks with Airbus and Boeing concerning its massive fleet renewal and development, and the biggest order could potentially involve around 500 aircraft. Of the around 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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