AerCap

Netherlands-based aircraft leasing company AerCap has placed a $10.7bn firm order with Boeing to purchase 100 737 MAX 8 aircraft.

Announced at this year’s Paris Air Show, the firm order is AerCap’s first deal for the 737 MAX aircraft.

AerCap CEO Aengus Kelly said: "This order complements our existing order book in the single-aisle category and is in-line with our customer needs and our fleet strategy of leasing the most-in-demand and technologically advanced equipment.

"We see significant market appetite for this aircraft type from our diverse customer base spanning approximately 90 countries around the world."

Talks on the order have been ongoing since AerCap’s acquisition of the International Lease Finance last year.

Boeing Commercial Airplanes president and CEO Ray Conner said: "The 737 MAX 8 will give AerCap’s customers a unique advantage in the heart of the single-aisle market."

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"The 737 MAX 8 will give AerCap’s customers a unique advantage in the heart of the single-aisle market."

Boeing previously unveiled plans to increase production of its single-aisle aircraft to around 60 a month by 2020, with an initial ramp-up to 52 a month by 2018.

Reuters quoted Conner as saying that: "We consult with the leasing companies because they have a good sense of where the market is.

"The worst thing for any of us is to oversupply; our intention is to not oversupply."

Along with AerCap’s order, Boeing has secured deals from SMBC Aviation Capital and Ruili Airlines for the 737 MAX 8 aircraft.

Powered by CFM International LEAP-1B engines, the 737 MAX 8 features advanced technology winglets and other improvements that will deliver a 14% increase in fuel efficiency over the existing next-generation 737 aircraft.

Image: Boeing 737 MAX aircraft. Photo: courtesy of Boeing.