BOC Aviation Announces Order for 40 Additional Boeing 737-8 Jets

Rhea-AI Summary

BOC Aviation has announced an order for 40 additional Boeing 737-8 jets, expanding its MAX portfolio to a total of 80 aircraft. This decision aligns with BOC Aviation's strategy to invest in fuel-efficient, environmentally friendly airplanes demanded by airline customers. Boeing reports over 1,500 gross orders for the 737 MAX family since late 2020, reflecting robust market demand. The 737-8 offers improved fuel efficiency, flying 3,500 nautical miles and using 20% less fuel than previous models, which reduces CO₂ emissions significantly.

Positive

• BOC Aviation orders 40 additional 737-8 jets, bringing total orders to 80.
• Investment supports BOC Aviation's strategy of acquiring fuel-efficient aircraft.
• Boeing 737 MAX family has over 1,500 gross orders since late 2020, indicating strong market demand.
• 737-8 model uses 20% less fuel and has a range of 3,500 nautical miles, enhancing operational efficiency.

Negative

• None.

SEATTLE, Dec. 27, 2022 /PRNewswire/ -- BOC Aviation Limited and Boeing [NYSE:BA] today announced that the airplane lessor is growing its 737 MAX portfolio with an order for 40 additional 737-8 jets. With the order, BOC Aviation is advancing its strategy of purchasing new, fuel-efficient, environmentally sustainable airplanes that are in demand with airline customers.

"We are pleased to continue to build on our existing relationship with Boeing, with this 40-aircraft incremental order for the fuel-efficient Boeing 737-8 aircraft. The incremental order takes our total 737 MAX 8 orderbook with Boeing to 80 aircraft," said David Walton, BOC Aviation deputy managing director and chief operating officer. "We look forward to continuing to provide one of the industry's most technologically advanced aircraft for delivery on lease to our airline customers, and to support their sustainable growth over the balance of this decade."

Boeing continues to see strong market demand for the 737 MAX family, with more than 1,500 gross orders since late 2020.

"We are proud that BOC Aviation continues to invest in the 737-8 with its industry-leading versatility and ability to fly almost any short- and medium-haul market profitably," said Ryan Weir, vice president of Global Leasing Sales, Boeing Commercial Airplanes. "We look forward to more opportunities to expand our relationship to support BOC Aviation and its customers."

The 737-8 is designed to offer more fuel efficiency, reliability and flexibility in the single-aisle market. The airplane can fly 3,500 nautical miles – about 600 miles farther than its predecessor – allowing airlines to profitably serve new and more direct routes for passengers. Compared to the airplanes it replaces, the 737-8 also delivers superior efficiency, using 20% less fuel and significantly reducing CO₂ emissions and operating costs.

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, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality, and integrity. Join our team and find your purpose at boeing.com/careers.

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 612 aircraft owned, managed and on order. Its owned and managed fleet was leased to 81 airlines in 38 countries and regions worldwide as of 30 September 2022. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin. For more information, visit www.bocaviation.com.

Contact:
Boeing Media Relations
media@boeing.com

Dmitry Krol
Boeing Communications
+1 (206) 661-2903
dmitry.krol@boeing.com 

Timothy Ross
BOC Aviation
+65 6325 9878
+65 9837 9873
timothy.ross@bocaviation.com 

 

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SOURCE Boeing

FAQ

What is the significance of BOC Aviation's order for 40 additional Boeing 737-8 jets?

The order expands BOC Aviation's 737 MAX portfolio to 80 jets, underscoring its strategy for fuel-efficient aircraft amidst strong market demand.

How does the Boeing 737-8 improve fuel efficiency?

The 737-8 uses 20% less fuel than its predecessors and can fly 3,500 nautical miles, making it more efficient for airlines.

What does the order for 40 Boeing 737-8 jets imply for Boeing's business?

It reflects Boeing's strong market position, with over 1,500 gross orders for the 737 MAX since late 2020, showcasing ongoing demand.

When was BOC Aviation's announcement regarding the order for Boeing 737-8 jets made?

The announcement was made on December 27, 2022.