Avolon cancels order for 75 Boeing MAX jets, 4 Airbus A330neo

Aircraft lessor Avolon Friday announced the cancellation of an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023, saying it was adjusting its order book to the disruption caused by the coronavirus pandemic. Boeing confirmed the cancellation, which it said was the result of a mutual agreement following discussions with Avolon regarding their 737 MAX portfolio and the impact of last year’s grounding in the wake of two fatal accidents. Industry sources said it followed lengthy talks on MAX compensation that were accelerated by the coronavirus crisis, but which culminated in both sides agreeing to cancel the unplaced jets as they Avolon, the world’s third-biggest lessor of commercial jets, said it had also rescheduled a further 16 MAX aircraft from 2020-2023 to 2024 or beyond, but it remained committed to the MAX aircraft. Boeing said Avolon now has orders for 55 MAX jets.<br/>