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Boeing inks $7.2 bln order for 737 Max airplanes with Air Lease Corp

The Boeing Co. (NYSE:BA) reported at Europe’s Farnborough Airshow on Monday that Air Lease Corp. (NYSE:AL) ordered 75 737 Max airplanes. The order, which has a list-price of $7.2 billion, is the first 737 Max order by a leasing company, Boeing said in Monday’s statement.

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The Boeing Co. (NYSE:BA) reported at Europe’s Farnborough Airshow on Monday that Air Lease Corp. (NYSE:AL) ordered 75 737 Max airplanes.

The order, which has a list-price of $7.2 billion, is the first 737 Max order by a leasing company, Boeing said in Monday’s statement.

Boeing also added the firm order includes reconfirmation rights for another 25 737 Max aircraft.

In pre-market trade, Boeing’s share price moved 51 cents higher, or 0.69 per cent, hitting $74.20 on the New York Stock Exchange.

In the statement, Air Lease Corp.’s chief executive, Steven Udvar, said the plane "is an excellent addition" to its portfolio and "the ideal complement" to its growing fleet of Next-Generation 737-800’s.

"The 737 MAX represents a step-change improvement that our airline clients need to compete in the future," he said.

To date, Boeing said it has orders and commitments for more than 1,000 737 Max airplanes.

Airlines operating the new single aisle plane will notice a 13 per cent fuel burn improvement, the company noted.
The first 737 Max is set to be delivered in 2017 and is a response to the Airbus A320neo.

Air Lease, so far, has ordered 170 airplanes from Boeing, including 75 737 Max, 78 737 800’s as well as five 777-300ER’s and 12 787 Dreamliners.

The Farnborough International Airshow is a seven-day event for the aerospace industry, which is held twice a year. The air show showcases both civilian and military aircraft to potential customers and investors.

Los Angeles-based Air Lease purchases commercial aircraft and leases them to its airline partners worldwide through customized aircraft leasing and financing solutions.

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