Aviation Capital Group LLC, which leases out passenger jets to commercial airlines, says it’s ordered 35 more Boeing 737 MAX planes.
After an order last year, the new purchase increases ACG’s 737 MAX commitment to 82 orders.
Thomas Baker, chief executive officer and president of ACG, said July 15 the order “reinforces our commitment to invest in modern and fuel-efficient aircraft technology.”
The Newport Beach lessor’s order is for 16 of the MAX 737-8 and 19 of the larger 737-10 variant, ACG said on July 15.
Both variants reduce fuel use and carbon emissions by 20% compared to the airplanes they replace, ACG said.
480+ Planes
Many airlines lease their planes to allow for flexibility with shifting passenger loads.
Aviation Capital Group had over 480 owned, managed and committed aircraft as of March 31, leased to roughly 90 airlines in approximately 45 countries.
ACG, a subsidiary of Tokyo Century Corp., has 128 total employees of whom 83 are based in Newport Beach, a company spokesperson told the Business Journal on July 18.
The company’s 2023 revenue jumped 20% last year to just over $1.2 billion, the spokesperson said.
First-quarter net income was $43 million, more than triple the amount of $14 million in the same period a year earlier.
ACG told investors this spring it saw a “favorable macro backdrop and industry dynamics.”
