Avolon finalizes order for 25 Boeing 737 aircraft

SEATTLE, Sept. 24 2012. Boeing (NYSE: BA) and Avolon, a Dublin-based aircraft leasing and management company, have finalized a firm order for 10 737 MAX 8s, 5 737 MAX 9s and 10 next-generation 737-800s. The order, which was first announced as a commitment at the Farnborough Airshow in July, has a current list-price value of $2.4 billion.

The original announcement at the Farnborough Airshow also included reconfirmation rights for five more 737 MAX airplanes.

The twin-engine 737 MAX, a new-engine variant of the popular 737 narrow-body passenger jetliner uses the CFM International LEAP-1B engine. Airlines operating the 737 MAX will see a 13 percent fuel burn improvement over today's most fuel efficient single-aisle airplanes, Boeing officials say.

Boeing designed the 737 MAX as a direct competitor in the single-aisle jetliner market with the Airbus A320neo. Both aircraft are touted as fuel-efficient, low-emission aircraft that take advantage of new engines and new aerodynamic features.

With this order, Boeing now has 664 orders for the 737 MAX from seven different customers.