International aircraft lessor and Miagen customer, Avolon, have finalised a deal with Boeing for 75 737 MAX Airplanes.
The agreement, announced last week at the Paris Air Show alongside Boeing’s launch of the MAX 10, includes firm orders for 55 MAX 8s, 20 MAX 10s and options for 20 MAX 8s, and is valued at nearly $11 billion.
The introduction of the MAX 10 to Avolon’s airplane portfolio will allow the Dublin-based lessor to meet growing customer demand in the narrow-body segment, and according to Avolon CEO, Dómhnal Slattery, “will strengthen Avolon’s position as a leading lessor in the global commercial market.”
Avolon’s announcement comes a week after Miagen’s official launch of LeaseGen at the Dubai Airshow.
Miagen designed LeaseGen in accordance with the forecasted growth of the aviation leasing sector. The global leasing industry now own nearly 42% of all commercial aircraft – expected to increase to 50% by the end of the decade. This trend is being encouraged as lessors have emerged as the vehicle through which commercial aircraft are efficiently allocated around the world as macroeconomic trends, geopolitical events and other external factors dictate.
Leasegen – a complete forecasting tool specifically designed for aviation leasing companies – provides full financial statements on every individual aircraft in a lessor’s portfolio, detailed information about income, expenses, assets and liabilities associated with each MSN.
Avolon CFO, Andy Cronin, shows how his team is already seeing the benefits, noting that they can now run 11 scenarios in a day – a task that has previously taken several weeks.
For more information on Leasegen, request a free demo or callback below.