Air Lease orders 50 Boeing 737 Max jets

Air Lease Corporation (ALC) has ordered Boeing 50 737 Max 8 and 9 aircraft, consisting of 32 incremental 737 Max planes and 18 737 Max planes resulting from the conversion of three 787 aircraft. The lessor first flagged the order when announcing its fourth quarter and fiscal year 2021 results on Feb. 17. Deliveries of the aircraft are scheduled to commence in 2024 and continue through 2026.

The Los Angeles based company said the additional 32 Max aircraft are pursuant to a memorandum of understanding and are subject to the negotiation of a final purchase price. ALC’s adjusted net income before taxes for the 12 months to December 31, 2021, was US$589.7 million. In the previous 12 months, adjusted net income before taxes was $692.0 million.

The Boeing order follows a December 2021 Airbus order where ALC agreed to buy 116 aircraft, including 59 A321neos, 25 A220-300s, 20 A321XLRs, seven A350Fs and five A330-900s. All up, the lessor has commitments to purchase 431 aircraft from Boeing and Airbus for delivery through 2028, with an estimated total commitment of $27.7 billion.