BOC Aviation cancels more 737 Max orders | News | Airfinance Journal

BOC Aviation cancels more 737 Max orders

Singapore-based BOC Aviation cancelled two additional Boeing 737 Max aircraft orders in September.

The US manufacturer lost three 737 Max orders last month. In August, four customers cancelled 737 Max orders, including three additional lessor cancellations: Aercap exited commitments for nine aircraft; Aviation Capital Group shaved two orders off its backlog; GECAS axed an order for one 737 Max; and Icelandair cancelled two orders.

In the first nine months of 2020 Boeing recorded cancellations for 448 aircraft, including 436 737 Max aircraft. These figures exclude accountancy-based removals.

A number of global leasing companies, however, have continued to support the 737 Max programme and their airline customers through increased sale and leaseback (SLB) activity for Max aircraft, including transactions between CDB Aviation and both United Airlines and Westjet.

BOC Aviation has “no comment” on its September Max cancellations. It retains 55 737 Max orders according to Boeing data, as well as orders for three 777-300ER and three 787-9 aircraft.

Boeing now retains an official unfilled 737 Max order backlog of 3,403 aircraft, after deducting 757 units due to ASC606 adjustments.

Transaction SnapshotBOC Aviation | Bond issuance | 09-20 | $750m

Financial Close:
09/09/2020
Value:
$750.00m USD
Full Details

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