Avolon has signed a firm order for 140 Boeing 737-10s, the largest 737 MAX order ever placed by an aircraft lessor. Boeing and Avolon confirmed the deal on 4 November 2026, two weeks after the US Federal Aviation Administration (FAA) certified the 737-10. The order takes Avolon’s unfilled 737 MAX orders above 240 aircraft, and lessors have now ordered more than 230 737-10s this year.
The Boeing Company is listed as BA on the New York Stock Exchange. Bohai Leasing, which owns 70% of Avolon, is listed as 000415 on the Shenzhen Stock Exchange. Airbus SE is listed as AIR on Euronext Paris, the Frankfurt Stock Exchange and the Spanish stock exchanges.
What did Avolon order from Boeing?
Avolon, the aircraft lessor based in Dublin, announced firm orders for 250 new aircraft on 9 October 2026. The orders were 140 Boeing 737 MAX aircraft and 110 Airbus aircraft. The Airbus part is 75 A320neo family aircraft and 35 A330neo family aircraft, with options for a further 100. At the time Avolon did not say which 737 MAX models it had chosen, and the orders still needed approval from the shareholders of Bohai Leasing.
On 4 November Boeing confirmed that all 140 are 737-10s, the largest model in the 737 MAX family. Neither company gave a price or a delivery schedule. The new orders lift Avolon’s firm commitments, meaning aircraft it has agreed to buy but not yet received, to 749 aircraft. Its owned, managed and committed fleet was 1,092 aircraft at 30 September 2026, or 1,342 aircraft counting the new orders.
| Aircraft type | Aircraft ordered |
|---|---|
| Boeing 737-10 | 140 |
| Airbus A320neo family | 75 |
| Airbus A330neo family | 35 |
How many 737 MAX aircraft will Avolon have?
Boeing says the order takes Avolon’s unfilled 737 MAX orders to more than 240 aircraft. Bohai Leasing’s report to its investors shows that at 30 September 2026 Avolon owned 54 737 MAX aircraft and had 114 more on order. With the 140 737-10s, 254 are still to be delivered, and Avolon’s 737 MAX fleet and orders together come to 308 aircraft.
The A320neo family is still the larger part of Avolon’s order book. Airbus says the October order takes Avolon’s total A320 family purchases from Airbus to about 650 aircraft and its A330-900 purchases to 114 aircraft.
| Group | Aircraft |
|---|---|
| Owned 737 MAX at 30 Sep 2026 | 54 |
| 737 MAX on order at 30 Sep 2026 | 114 |
| New 737-10 order (announced 9 Oct, confirmed as 737-10s 4 Nov) | 140 |
| Total | 308 |
Why are lessors ordering the Boeing 737-10?
Boeing says the 737-10 seats up to 230 passengers and has a range of 3,100 nautical miles (5,740 km). It carries the most passengers of any 737 MAX model and has the shortest range. Its nearest Airbus equivalent is the A321neo, the largest A320neo family model.
Lessors have placed firm orders for more than 230 737-10s in 2026, according to Boeing. That is five times the number of 737-10s lessors had on order at the end of 2025. Across all 737 MAX models, lessors have ordered more than 1,450 aircraft, about 20% of Boeing’s backlog, which is the number of aircraft ordered and not yet delivered. Boeing puts the 737 family at about 30% of all financed aircraft.
Andy Cronin, Avolon’s chief executive, said the 737-10 “combines outstanding economics with the capacity airlines increasingly require”.
What does the order mean for airlines and lessors?
The FAA certified the 737-10 on 20 October 2026, when Boeing had 1,555 orders for the model, as we set out in our post on the 737-10 certification. The first delivery is expected in early 2027, to WestJet through Aviation Capital Group. Transport Canada and the European Union Aviation Safety Agency (EASA) had not yet approved the model at that date.
A lessor that orders directly from Boeing holds delivery positions, which are fixed places in Boeing’s production schedule. Airlines without their own 737-10 order can lease the aircraft from lessors such as Avolon that hold those positions.
How quickly the aircraft arrive depends on Boeing’s 737 production rate. Boeing builds 42 737s a month and expects a stable rate of 47 a month in early 2027, as we covered in our post on Boeing’s third-quarter results. Avolon said that at 30 September 2026 it had placed 89% of the aircraft due to it over the next 24 months with airlines. For lenders and investors, the figures to watch next are the 737-10 delivery schedule, which neither company has published, and the airlines that sign leases for the aircraft.
Frequently asked questions
How many Boeing 737-10s has Avolon ordered? Avolon has ordered 140 Boeing 737-10s. The order was announced on 9 October 2026 as 140 737 MAX aircraft, and Boeing and Avolon confirmed on 4 November 2026 that all 140 are 737-10s. Boeing says it is the largest 737 MAX order ever placed by a lessor.
How many 737-10s have lessors ordered in 2026? Boeing says lessors placed firm orders for more than 230 737-10s in 2026, five times the number lessors had on order at the end of 2025. Lessors hold more than 1,450 orders across all 737 MAX models, about 20% of Boeing’s backlog.
How many passengers does the Boeing 737-10 carry? Boeing says the 737-10 seats up to 230 passengers and has a range of 3,100 nautical miles (5,740 km). It is the largest model in the 737 MAX family and was certified by the US Federal Aviation Administration on 20 October 2026.
Who owns Avolon? Bohai Leasing, which is listed on the Shenzhen Stock Exchange, owns 70% of Avolon. Avolon’s October 2026 orders needed approval from Bohai Leasing’s shareholders before they became final.
Talk to Boston Warwick
Boston Warwick advises lessors, lenders and investors on aircraft orders, values and lease placements, including the 737 MAX and A320neo families. Our due diligence work covers order terms, delivery timing and residual value assumptions before a deal. Contact us to arrange a call.
Sources
- Boeing, “Avolon Finalizes Order for 140 Boeing 737-10 Jets”, 4 November 2026
- Avolon, “Q3 2026 Business Update and orders for 250 new-technology aircraft”, 9 October 2026
- Airbus, “Avolon orders 35 Airbus A330-900 and 75 A320neo Family aircraft”, 9 October 2026
- Aviacionline, “Avolon confirms its order for 140 Boeing 737 MAX will be entirely for the 737-10 variant”, 4 November 2026, citing Bohai Leasing’s investor report
- Reuters via KSL.com, “Lessor Avolon orders 250 Boeing, Airbus jets with option for 100 more”, 9 October 2026
- Wichita Business Journal, on Boeing’s third-quarter 737 production rate, 27 October 2026
- Bohai Leasing, Investor Relations
Hero image: Boeing 737-10 N27751 at Boeing Field by DUNCAN KIRK, via Wikimedia Commons, CC BY 4.0.
