Boeing Wins $8.8 Billion Aircraft Order on Asian Demand

Monday, 25 Aug 2014 06:29 AM

 

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Boeing Co. won an order for 82 jets from BOC Aviation Pte worth $8.8 billion in list prices as Asian aircraft leasing companies boost their fleet amid a surge in travel demand across the continent.

BOC Aviation ordered 50 737 Max 8 and 30 Next Generation 737-800 aircraft from Boeing, the lessor, a unit of Bank of China Ltd., said in an e-mailed statement today. The Singapore- based lessor also agreed to buy two 777 widebody aircraft. The single-aisle planes are for delivery between 2016 and 2021, BOC said in the statement.

BOC Aviation and SMBC Aviation Capital Ltd., the world’s third-largest aircraft leasing company, are among Asian lessors buying new planes as economic growth across India, China and Southeast Asia enables more people to fly. Chicago-based Boeing has predicted the region will drive an increase in commercial aircraft sales to $5.2 trillion over the next 20 years as China overtakes the U.S. as the world’s biggest aviation market.

“This is a continuation of our commitment to be responsive to airline customers which are expanding or replacing older fleets,” Robert Martin, BOC Aviation’s managing director, said in the statement.

Last month, BOC Aviation ordered 43 Airbus Group NV aircraft.

© Copyright 2014 Bloomberg News. All rights reserved.

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