Air Lease Corporation Adds 32 Boeing 737 MAX Jets to Its Orderbook

Rhea-AI Summary

Boeing (NYSE:BA) announced that Air Lease Corp. (ALC) is expanding its portfolio with an order for 32 additional 737-8 and 737-9 jets. This decision follows a memorandum of understanding from February, showcasing ALC's response to the recovering travel market. With the new order, ALC now has a total of 130 737 MAXs in its backlog. The 737 MAX family is recognized for its fuel efficiency, cutting fuel use and emissions by at least 20%, making it increasingly popular among airlines.

Positive

• ALC orders 32 additional 737 MAX jets, increasing their backlog to 130.
• The 737 MAX family offers fuel efficiency improvements of at least 20%, appealing to airlines.
• Boeing's strong demand in the aircraft leasing market supports recovery in air travel.

Negative

• None.

SEATTLE, April 4, 2022 /PRNewswire/ -- Boeing [NYSE:BA] and Air Lease Corp. (ALC) [NYSE:AL] today announced the aircraft lessor is expanding its airplane portfolio with an order for 32 additional 737-8 and 737-9 jets. As the travel market recovers, ALC is increasing its 737 MAX family offering to meet airline demand for modern, fuel-efficient and sustainable operations.

"Following our memorandum of understanding with Boeing in February for these 32 737 MAX aircraft, we are pleased to announce the signing of this definitive purchase agreement. We believe that the economic and operating advantages of the 737 MAX will serve our airline customers well as they favor modern, fuel efficient aircraft," said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

ALC continues to grow its investment in the 737 MAX family. In February the lessor added 18 737 MAXs to its portfolio. With the new order, ALC has 130 737 MAXs in its backlog.

With commonality and improved fuel efficiency, the 737 MAX family enables airlines to optimize their fleets across a broad range of missions while reducing fuel use and carbon emissions by at least 20% compared to the airplanes they replace. With the 737 MAX, ALC customers can choose airplanes that are optimized to suit multiple markets based on range and size while offering commonality for pilots and crew. The versatility of the 737 MAX family allows airlines to offer new and more direct routes for passengers and makes these airplanes highly popular among leasing and airline customers around the world.

"The 737 MAX family has already proved its value within ALC's narrowbody portfolio, providing operators with excellent fuel efficiency and flexibility across different networks," said Ihssane Mounir, Boeing senior vice president of Commercial Sales & Marketing. "The addition of more 737 MAXs, including 737-8s and 737-9s, will enable ALC to respond to accelerating market demand as air travel continues to recover."

As a leading global aerospace company, Boeing develops, manufactures, and services commercial airplanes, defense products, and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability, and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality, and integrity. Learn more at www.boeing.com.

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions.

Contact
Jim Proulx
Boeing Communications
+1 (206) 850-2102
jim.proulx@boeing.com 

Dmitry Krol
Boeing Communications
+1 (206) 661 29 03
dmitry.krol@boeing.com 

Ashley Arnold
ALC Media & Investor Relations
+1 (310) 553 05 55
aarnold@airleasecorp.com 

 

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SOURCE Boeing

FAQ

What recent order did Air Lease Corp make from Boeing?

Air Lease Corp. ordered 32 additional 737-8 and 737-9 jets.

What is the significance of the 737 MAX family for Boeing?

The 737 MAX family provides fuel efficiency and versatility, reducing emissions by at least 20%.

How many 737 MAX jets does Air Lease Corp have in its backlog?

Air Lease Corp has a total of 130 737 MAXs in its backlog after the new order.

When was the Air Lease Corp's order announced?

The order was announced on April 4, 2022.