GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric, has finalized a firm order for 75 Boeing 737 MAX 8s and 10 Boeing 737-800s.
The order, first announced as a commitment at the Farnborough International Airshow 2012 in July, also provides purchase rights for up to 15 additional 737-800s.
Boeing values the order at $6 billion at list prices and says the latest GECAS deal further illustrates both the strength of the Boeing 737 MAX and the continuing strong demand for the Boeing 737NG in the aircraft-leasing industry.
To date, 821 Boeing 737 MAX jets have been ordered, and Boeing has been given less-binding commitments for hundreds more.
“The 737 MAX will be a perfect complement to our broad portfolio of modern, fuel efficient aircraft that offer our airline customers the lowest operating costs,” says Norman Liu, president and CEO of GECAS.
The 737 MAX is a new-engine variant of the world’s best-selling commercial-jet family. Boeing claims airlines operating the 737 MAX will see an 8 per cent operating cost per seat advantage over tomorrow’s competition, but some industry analysts dispute this figure.
With this order, GECAS has ordered 580 jets directly from Boeing since 1995, the leasing company’s orders including 737s, 747s, 757s, 767s and 777s. To date, GECAS has taken delivery of 433 of the aircraft.
GECAS has a fleet of more than 1,710 owned and serviced aircraft with approximately 235 airlines in more than 75 countries.