Kuwait-based aircraft leasing company ALAFCO has announced a commitment at the Farnborough International Airshow 2012 for 20 Boeing 737 MAX 8s, valued at $1.9 billion at current list prices.
Boeing says it looks forward to finalizing the agreement, at which time the order will be posted to the Boeing Orders & Deliveries website.
The signing ceremony was attended by ALAFCO chairman and CEO Mr. Ahmad Alzabin and Ray Conner, president and CEO of Boeing Commercial Airplanes.
“This is the first commitment for the 737 MAX from the Middle East, which is one of the aviation industry’s highest growth regions,” says Conner. “We are proud of the confidence that ALAFCO has placed in the 737 MAX, which will deliver unsurpassed fuel efficiency in the single-aisle market as well as improved environmental performance.”
The 737 MAX has accumulated more than 1,000 orders and commitments from 17 customers worldwide since its launch on August 30, 2011.
“Today, with rising fuel costs, the 737 MAX will provide operational cost savings to airlines in addition to being more environmentally friendly due to its latest quiet-engine technology,” says Alzabin. “These are the advantages that airlines are looking for in the current competitive and demanding environment.”
ALAFCO ordered six Boeing 737-800 jets in March 2007, with the last of the six aircraft being delivered to the leasing company in July 2011.
At the Farnborough International Airshow 2012, Boeing has also announced an order for Air Lease Corporation for 75 Boeing 737 MAX jets and a commitment from lessor GE Capital Aviation Services for 75 737 MAX 8s, as well as for 25 more Boeing 737-800s. Two days before the show’s intitial press day on July 8, Virgin Australia placed a firm order for 23 Boeing 737 MAX 8s.