Avolon Completes Purchase of 140 Boeing 737-10s in Record Lessor Order
Key Facts
Boeing and Avolon announced on November 4 that the lessor had completed the purchase of 140 737-10 aircraft, specifying the model that Avolon had not identified when it announced its orders in October. Boeing described the deal as a record 737 MAX order from a lessor. The manufacturer said the purchase lifts Avolon’s undelivered 737 MAX balance to more than 240 aircraft. The deal shows the scale of Avolon’s commitment to the largest model in the family and adds a significant boost to Boeing’s order book from lessors. Avolon CEO Andy Cronin said the agreement "strengthens our ability to support airlines’ growth and fleet renewal over the next decade."
The 140 aircraft are part of a broader order Avolon announced on October 9, comprising confirmed orders for 250 new aircraft from Boeing and Airbus. The announced order was divided between 140 aircraft from the 737 MAX family and 110 Airbus aircraft. The Airbus portion included 75 aircraft from the A320neo family and 35 from the A330neo family, as well as options to purchase another 100 aircraft. The November 4 statement confirmed that Avolon’s 140 Boeing aircraft are 737-10s, without changing the total of 250 confirmed orders in the October announcement. After the October orders, Avolon said its confirmed aircraft commitments stood at 749.
Avolon’s owned, managed and committed fleet totaled 1,092 aircraft on September 30, according to the company’s third-quarter update. Avolon estimated its pro forma fleet at 1,342 aircraft after adding the new orders it announced in October. That figure combines existing aircraft and new delivery commitments, while the confirmed commitments balance of 749 aircraft indicates the size of its orders awaiting delivery. The company works with 138 airlines in 62 countries, according to Boeing. The network provides a customer base whose aircraft needs, growth and fleet renewal Avolon aims to support, Cronin said.
Avolon’s aircraft portfolio saw activity in the third quarter, as it acquired 10 aircraft and sold 29. It had agreed to sell another 112 aircraft by the end of the quarter, according to its operational update. The company also said it placed 28 new-technology aircraft from its commitments during the period. At quarter-end, 89% of its committed fleet was placed for lease over the following 24 months. These indicators reflect the company’s concurrent aircraft purchases, sales and leasing alongside its new commitments, while Avolon links the latest agreement to its ability to meet airlines’ growth and fleet renewal needs.
The deal puts lessors in a prominent position in demand for 737 MAX aircraft: Boeing said lessors had ordered more than 1,450 aircraft from the family, equivalent to about 20% of the company’s order book. Specifically for the 737-10, lessor orders exceeded 230 aircraft during 2026, according to Boeing. The company said that was five times the lessor order balance for the largest 737 MAX model at the end of 2025. This points to a clear increase in announced demand from this buyer group during the year. Boeing tied interest in single-aisle aircraft to its forecast that passenger traffic will grow 4% annually over the next 20 years.
Boeing says the 737-10 can carry up to 230 passengers and has a range of 3,100 nautical miles. Confirmation of the Avolon deal follows U.S. Federal Aviation Administration approval of the model on October 20, when the agency issued an amended type certificate and an updated production certificate. The agency said it would continue to hold Boeing to safety standards as production of the model begins. Boeing had forecast that deliveries would begin in 2027. These milestones provide operational context for the order: the model is now certified, but the expected start of deliveries remains tied to the schedule Boeing announced.