CALC to buy 50 new Boeing 737 MAX aircraft for $5.8bn


China Aircraft Leasing Group Holdings (CALC) has signed a $5.8bn aircraft purchase agreement with Boeing for 50 new 737 MAX series aircraft.

Delivery of the aircraft will be carried out in phased manner and is expected to be completed by 2023.

Once delivered, the new aircraft will help CALC in expanding its business.

"We are actively expanding and diversifying our fleet portfolio to meet the varying needs of airline customers in this dynamic market.”

CALC CEO Mike POON said: “Over the past decade, CALC has grown from being a market leader in China’s aircraft leasing industry to becoming one of the most important players in the global aviation market.

“CALC now has a strong team in place that is looking to capture global opportunities, and we are actively expanding and diversifying our fleet portfolio to meet the varying needs of airline customers in this dynamic market.”

CALC currently has a mix fleet of 87 aircraft.

The latest deal has brought CALC’s outstanding order to 139 aircraft, which include 89 Airbus and 50 Boeing aircraft, enabling the company to deliver up to 226 aircraft by 2023.

In a separate development, the company had acquired two used Boeing B737-900ER aircraft with lease attached from BOC Aviation.

Both aircraft are scheduled to be delivered by the second quarter of this year.