BOC Aviation Boosts Fleet with Arajet, TUI Deals
BOC Aviation has announced a major fleet expansion by purchasing five Boeing 737-8 aircraft and signing a long-term lease agreement with Arajet, the largest airline in the Dominican Republic. The deal, unveiled in a press release on February 24, 2025, marks a significant milestone for both companies as they look to consolidate and modernize their fleets in the region.
According to Victor Pacheco, Founder and CEO of Arajet, the partnership with BOC Aviation is key to strengthening the carrier’s regional footprint. “We value our partnership with BOC Aviation as we continue to consolidate our fleet and our footprint in the region,” Pacheco said. The five new Boeing 737-8 aircraft will be equipped with advanced CFM LEAP-1B engines, promising enhanced fuel efficiency and performance. Scheduled for delivery in 2026 and 2027, these state-of-the-art jets are expected to play a critical role in meeting growing passenger demand in the Dominican Republic and beyond.
Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation, expressed his enthusiasm for the deal, emphasizing that the addition of these technologically advanced aircraft will not only expand BOC Aviation’s future order book but also reinforce its reputation as a leader in the global aircraft leasing market. “As these aircraft deliver, we continue to grow our future orderbook and to further build out our fleet of technologically advanced aircraft,” Townend added.
The partnership with Arajet comes on the heels of another significant lease agreement signed by BOC Aviation. On December 4, 2025, BOC Aviation entered into a lease deal with European travel group TUI for 14 Boeing 737 MAX 8 aircraft. These new aircraft will join TUI Group’s already sizable fleet and are scheduled for delivery between 2025 and 2026. The addition of these jets will further strengthen TUI’s position in the competitive European travel market, allowing the group to expand its route network and enhance service quality for its customers.
BOC Aviation, a major global aircraft operating leasing company, currently owns, manages, and has on order a fleet of 693 aircraft. As of September 30, 2024, the company’s owned and managed fleet was leased to 93 airlines across 48 countries and regions worldwide. This extensive leasing network underscores BOC Aviation’s role as a critical partner for carriers seeking to modernize their fleets and improve operational efficiency.
The dual expansion strategy—partnering with both Arajet and TUI—demonstrates BOC Aviation’s commitment to delivering value to its clients through the provision of modern, fuel-efficient aircraft. For Arajet, the acquisition of the five Boeing 737-8s will enable the airline to further expand its service offerings across the Caribbean region, meeting the rising demand for air travel. For TUI, the lease of 14 Boeing 737 MAX 8s represents a strategic investment in strengthening its European network.
As the aviation industry continues to evolve, partnerships like these are vital in ensuring airlines remain competitive by leveraging the latest aircraft technologies. With new deliveries scheduled over the next few years, both Arajet and TUI are well-positioned to capture new market opportunities and provide enhanced travel experiences to their passengers.
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