May 16, 2017   SOURCE: BusinessWire

Avolon Celebrates Delivery of the World’s First Boeing 737 MAX to Malindo Air

Avolon, the international aircraft leasing company, celebrated today the delivery of the world’s first Boeing 737 MAX 8 aircraft to Malindo Air. The delivery took place during a special ceremony at Boeing’s 737 Delivery Centre in Seattle where Avolon, Boeing and CFM International, the aircraft’s engine manufacturer, were present.

In addition to today’s delivery, Avolon has commitments for 60 Boeing 737 MAX 8/9 aircraft, delivering through to 2021. This is Avolon’s fifth aircraft on lease to Malindo Air, and is part of a portfolio of 19 aircraft currently on lease to Lion Air Group.

Boeing 737 MAX

The Boeing 737 MAX is a new-engine variant of the world's best-selling aircraft and builds on the strengths of today's Next-Generation 737. The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. Airlines operating the 737 MAX will see a 14% fuel burn improvement over the most fuel efficient single-aisle current technology aircraft and an 8% operating cost per seat advantage over competing aircraft.

John Higgins, Avolon President and CCO, said:
“Avolon was one of the first lessors to order the Boeing 737 MAX when it launched in 2011 and we are proud to deliver the world’s first 737 MAX to Malindo Air. It marks the first delivery of Avolon’s commitments of over 60 737 MAX aircraft. Our commitment to our customers is to have a product offering built around the latest and most technically advanced aircraft available in the market.”

Kevin McAllister, Boeing Commercial Airplanes President and CEO, said:
“This airplane will change the face of the single-aisle market. The 737 MAX 8 is the best in its class, providing unmatched performance and economics for our airline customers.”

Chandran Rama Muthy, CEO of Malindo Air said:
“We are thrilled to partner with both Avolon and Boeing to take the delivery of the world’s first Boeing 737 MAX aircraft. The Boeing 737NG fleet has served Malindo well in its growth and we believe that the 737 MAX aircraft will become the center piece of our fleet. These new aircraft will allow us to go to further destinations and will play a key role in providing lower air fares to our customers. Malindo will be undergoing a re-branding to Batik Air Malaysia within 2017.”

About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is a wholly-owned, indirect subsidiary of Bohai Capital Holding Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415). Avolon is the world’s third largest aircraft leasing business with a pro-forma owned, managed and committed fleet, as of 31 March, 2017 of 850 aircraft valued at c. US$43 billion.

Website: www.avolon.aero

Twitter: @avolon_aero

About Boeing

Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. Boeing has a long tradition of aerospace leadership and innovation and continues to expand its product line and services to meet emerging customer needs. With corporate offices in Chicago, Boeing supports airlines and U.S. and allied government customers in 150 countries and employs approximately 150,000 people across the United States and in more than 65 countries around the world. For information on Boeing, please visit www.boeing.com.

Twitter: @boeingairplanes

About Malindo Air

With main hubs at the Kuala Lumpur International Airport (KLIA) and the downtown city airport Subang Skypark in Selangor, Malindo is the fastest growing international carrier in the Lion Group. As of 15 May 2017, it has a fleet of 45 aircraft and flies to 46 destinations across 16 countries. It has interlining services with 4 airlines.

Website: www.malindoair.com