Air Lease to Lease 25 Boeing 737-8 Aircraft to Malaysia Aviation Group

Air Lease entered agreements for long-term lease placements for 25 new Boeing 737-8 aircraft with Malaysia Aviation Group, the parent company of Malaysia Airlines. Air Lease is scheduled to deliver the aircraft starting in early 2023 through the beginning of 2026 from its orderbook with Boeing.

“ALC is pleased to announce this significant deal for 25 new 737-8 aircraft with MAG,” Steven F. Udvar-Házy, executive chairman of Air Lease, said. “These 25 new Boeing aircraft will help grow Malaysia Airlines’ expanding route network and improve operations and the efficiency of the airline’s fleet.”

“After a detailed tender process in the last quarter, we are pleased to appoint ALC as the aircraft lessor for our Boeing 737-8 fleet,” Izham Ismail, group CEO of Malaysia Aviation Group, said. “This exercise is tied to the restructured terms of our existing orderbook with Boeing. We are happy to have in ALC a partner who is committed to be part of our future endeavors as outlined in our long-term business plan 2.0 (‘LTBP2.0’). The 737-8 is key to LTBP2.0 with its superior product offerings and better fleet performance, which includes, amongst others, improved fuel efficiencies of up to 15%. This aligns well with our sustainability journey whilst also enabling MAB with greater flexibility and agility to implement our future network strategies.”

In addition to these 25 Boeing aircraft, Malaysia Airlines currently has six Airbus A350-900 aircraft on long-term lease from Air Lease.

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