Kuwait airplane leasing company Alafco has reached a deal with Boeing for the purchase of 20 737 MAX 8s valued at $1.9 billion at current list prices, said its top official at the ongoing Farnborough Airshow in UK.
Confirming the deal, Alafco's chairman and CEO Ahmad Alzabin said, '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.'
Alzabin pointed out that these were the advantages that airlines were looking for in the current competitive and demanding environment.
Boeing looks forward to finalizing the agreement, at which time the order will be posted to the Boeing Orders & Deliveries website, said Ray Conner, president and CEO at the signing ceremony.
'This is the first commitment for the 737 MAX from the Middle East which is one of the aviation industry's highest growth regions,' said Conner.
'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,' he remarked.
Already a market success, the 737 MAX has accumulated more than 1,000 orders and commitments from 17 customers worldwide since its launch on August 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.
Alzabin said Alafco had ordered six 737-800s in March 2007 with the last airplane delivered to the leasing company in July 2011.
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