Boeing [NYSE:BA] and CDB Aviation Lease Finance (CDB Aviation) today announced the signing of a Memorandum of Understanding (MOU) for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners at the 2017 Paris Air Show.
With this commitment, valued at $7.4 billion at list prices, CDB Aviation will become one of the launch customers for the 737 MAX 10, the newest member of Boeing's 737 MAX family.
Included in this agreement is the conversion of six 737 MAX 8 orders to the new 737 MAX 10s by the lessor from a previous order.
The agreement will be reflected on the Boeing Orders and Deliveries website once finalized.
"Our new vision is to propel CDB Aviation into a formidable global aviation leasing platform," said Peter Chang, President and Chief Executive Officer, CDB Aviation. "The 737 MAX, the fastest-selling airplane in Boeing history, and the cutting-edge 787 Dreamliner will play a key role in bolstering our fleet and advancing our global market presence to fulfill the vision."
Based in Dublin, Ireland, CDB Aviation operates as a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., LTD (CDB Leasing) (HKEX stock code:1606). With a committed fleet of over 300 aircraft, CDB Aviation has over 10 years' experience in the business and is one of the largest and most influential Chinese-owned aviation leasing companies.
"We are honored to bring our enduring partnership with CDB Aviation to a new level, with the new commitment for additional Boeing single-aisle and widebody airplanes to meet the needs of their customers," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "This further demonstrates the popularity of our latest, fuel efficient 737 MAX and 787 airplane models."
The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.
Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
The 737 MAX is the fastest-selling airplane in Boeing history.
The Boeing 787 Dreamliner is a family of super-efficient airplanes with new passenger-pleasing features that bring the economics of large jet transports to the middle of the market. Since entering service in 2011, the 787 family has flown more than 167.6 million people on more than 610 unique routes around the world, saving an estimated 15.6 billion pounds of fuel.