Kuwait's ALAFCO orders 20 Boeing 737 Max 8s worth $2.2bn

GE Capital Aviation Services A320neo

Boeing Co. (BA) Monday said BOC Aviation Ltd. (2588.HK) has signed an initial pact to buy 10 of the latest Boeing planes in an order valued at US$1.25 billion at list prices.

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.

GE Capital Aviation Services (GECAS), part of General Electric, announced a purchase of 20 of the Boeing 737 MAX 10 aircraft, which will seat up to 230 people.

"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.

ALAFCO, a global provider of commercial aircraft leasing products, already has unfilled orders for 20 737 MAX airplanes and was also one of the first Middle East customers for the 787 Dreamliner.

"GECAS' renewed order of our best-selling A320neo aircraft, underscores the continuing strong market demand for these fuel-efficient aircraft", said Fabrice Brégier, Airbus COO and President Commercial Aircraft.

The 737 MAX is the fastest-selling airplane in Boeing history. Chang commented, "The company continues to grow our world-class, worldwide management team with experienced and well-respected industry leaders" and will leverage the significance of the China Development Bank and the resources it offers to "expand the company's focus beyond China and benefit our airline customers globally".

Kuwait-based ALAFCO Aviation Lease and Finance Co. It took an important step in July 2016 to globalize and marketize its business - listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606).

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