Dublin-based Avolon Aerospace, a major aircraft leasing company, has announced a massive cancellation for 75 Boeing 737 MAXs and 4 A330neos.
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Due to this challenging period of low air travel demand, Avolon Aerospace has decided to cancel and defer more than 100 aircraft.
Avolon’s order for 75 Boeing 737 MAXs was finalized in November 2017 and set to be delivered from 2020 to 2023. This order consisted of 55 MAX 8s and 20 MAX 10s, which are now cancelled.
(Avolon Aerospace has leased a 737 MAX to WestJet)
After this $11 billion 737 MAX cancellation, Avolon now has 55 737 MAXs on order which appears to consist of MAX 8s and MAX 9s.
Additionally, Avolon will defer 16 of its 737 MAXs set to be delivered between 2020 and 2023 to 2024 or later.
This 737 MAX cancellation appears to be the biggest cancellation by a single existing company.
(Jet Airways technically holds the record for the largest 737 MAX order cancellation because of their collapse. Avolon still exists)
Unfortunately, due to both the 737 MAX crisis and COVID-19, Boeing’s re-engined narrowbody aircraft hasn’t been doing well.
In February 2020, five companies including Air Canada cancelled some 737 MAX orders for a total of 41 cancellations of the aircraft. Topic: Boeing Loses More 737 MAX Orders
(Avolon Aerospace is leasing an A330neo to Garuda Indonesia’s low-cost carrier, Citilink)
However, Boeing wasn’t the only one that lost from Avolon’s cancellation. The company has cancelled 4 commitments for the A330neo set to be delivered in 2021.
Additionally, Avolon has deferred an order for 9 A320neo family aircraft from 2020/2021 to 2027.
Jet Airways: https://www.jetphotos.com/photo/8999858
Once again, a huge blow to Boeing’s 737 MAX program. Unfortunately, this may be the start of a “wave of cancellations” for the MAX due to COVID-19.
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