BOC Aviation Boosts Boeing Portfolio to Meet Demand

 - August 26, 2014, 11:53 AM
BOC Aviation placed an $8.8 billion order for Boeing 777-300ER, 737 Max 8 and 737NG airliners. (Photo: Boeing)

Singapore-based aircraft leasing company BOC Aviation said it was responding to Asian airline customers that are expanding or replacing their older aircraft by placing its largest-ever order with Boeing. This week, the company owned by Bank of China placed an order for 50 Boeing 737 Max 8 and 30 737-800 narrowbody airliners and two 777-300ER widebodies valued at $8.8 billion at list prices.

Engine manufacturer CFM International will supply the leasing company with 100 Leap-1B engines to power the 737 Max 8s and 60 CFM56-7BE engines for the 737NGs, an order it valued at $2 billion at list prices. BOC Aviation has also ordered the Leap-1A engine for Airbus A320neos and Leap-1C engine for the Comac C919, making it the first company to order all three versions of the Leap engine, CFM said.

“Following the successful placement of the 50 Next Generation 737 aircraft that we ordered in 2006, this is a continuation of our commitment to be responsive to airline customers,” said Robert Martin, BOC Aviation managing director and CEO. “The 737 is known for its operational and fuel efficiency, and BOC Aviation expects healthy demand for the Next Generation 737 and 737 Max in the next seven years.”

As of June, the BOC Aviation fleet of 251 owned and managed aircraft included 118 Boeing airliners operated by 27 carriers, the company said. Ninety-five of those were 737NGs.