Avolon firms up deal for 75 Boeing jets, may order 20 more

Chinese-owned aircraft leasing company Avolon has firmed up an order for 75 Boeing airplanes and may order 20 more, its parent Bohai Capital said Sunday. The Dublin-based leasing group, founded by CE Domhnal Slattery, agreed to buy 55 Boeing 737 MAX 8 aircraft and 20 of the higher-capacity Boeing 737 MAX 10, Bohai said in a filing. It may order an additional 20 of the main 737 MAX 8 version, it added. Based on published prices, the confirmed part of the deal would be worth $8.7 billion at list values, though analysts say buyers typically get discounts of at least 50% for significant orders of such models. Including the possible extra purchase of 20 jets, the total deal would be worth $11b at list prices, Bohai said. The announcement broadly confirms a memorandum of understanding signed by Avolon at the Paris Airshow in June for 75 Boeing 737 MAX 8 aircraft. Slattery said at the time that Avolon was considering Boeing’s 737 MAX 10. Bohai, part of aviation-to-shipping conglomerate HNA Group, said Avolon expected to take delivery of the aircraft between 2021 and 2024. <br/>