ALAFCO Announces Initial Commitment for 20 Boeing 737 MAX Aircraft
FARNBOROUGH, United Kingdom, July 10, 2012 – Kuwait based airplane leasing company ALAFCO and Boeing today announced initial commitment at the 2012 Farnborough Airshow for 20 Boeing 737 MAX 8s valued at $1.9 billion at current list prices.
The signing ceremony was attended by ALAFCO’s chairman and CEO Mr. Ahmad A. Alzabin and Ray Conner, president and CEO of Boeing Commercial Airplanes.
“Today, with rising fuel costs, the 737 MAX will provide operational cost savings to airlines in addition to being more environmentally-friendly due to its latest quiet engine technology,” said Mr. Alzabin. “These are the advantages that airlines are looking for in the current competitive and demanding environment.”
Mr. Conner said, “This is the first agreement for the 737 MAX from the Middle East which is one of the industry’s highest growth regions” . ”We are proud of the confidence that ALAFCO has placed in the 737 MAX which will deliver unsurpassed fuel efficiency in the single-aisle market as well as improved environmental performance.”
Already a market success, the 737 MAX has accumulated more than 1,000 orders and commitments from 17 customers worldwide since its launch in Aug. 30, 2011. The 737 MAX is the new-engine variant of the world's best-selling airplane and builds on the strengths of today's Next-Generation 737. The airplane will be powered by CFM International LEAP-1B engines. Along with the engines, aerodynamic improvements to the tail and the new Advanced Technology winglet, the 737 MAX will reduce fuel burn and CO2 emissions by 13 percent over today's most fuel-efficient single-aisle airplane, the Next-Generation 737.