777 Partners Orders up to 66 Additional Boeing 737 MAX Family Airplanes
Investment firm 777 Partners has today ordered up to 66 additional Boeing 737 MAX Family aircraft, including a firm order for 30 high capacity 737-8-200s, marking their fifth MAX order. The new order expands their MAX family portfolio to up to 134 airplanes since 2021.
On Tuesday (July 19, 2022), from the 2022 Farnborough Airshow, Boeing announced that investment firm 777 Partners has ordered up to 66 additional MAX Family aircraft, including a firm order for 30 efficient high-capacity 777-8-200s. Since 2021, 777 Partners has expanded their MAX Family portfolio to as many as 134 airplanes. The investment firm has used the 737 MAX to launch a number of low-cost carriers around the world including Canadian ULCC Flair Airlines and Bonza Airline, an Australian startup that will commence operations later this year.
In Tuesday’s announcement, 777 Partners’ Managing Partner, Josh Wander, said,
“This new order marks another milestone in the robust growth of our aviation businesses and concurrently, our partnership with Boeing. We are excited about the possibilities the MAX aircraft provide our growing group of carriers to facilitate and democratize low-cost travel around the globe while respecting our commitment to sustainable flying.”
Also commenting on the additional order, Boeing Commercial Airplanes’ President and CEO, Stan Deal, added,
“777 Partners is leveraging the cost efficiencies of the 737-8 and 737-8-200 for its diverse network of airlines, while also providing an excellent passenger experience and meeting sustainability goals. 777 Partners has had tremendous success establishing new carriers worldwide with the 737-8, and the 737-8-200 will allow for continued growth as an even more efficient addition to its portfolio.”
The Boeing 737 MAX Family of airplanes deliver enhanced efficiency , improved environmental performance and increased passenger comfort. Powered by efficient CFM International LEAP-1B engines and incorporating advanced technology winglets, the MAX offers excellent economics with a reduction in fuel use and emissions by 20 percent compared to the jets it replaces.
Founded in 2015, Miami-based 777 Partners is a private alternative investment firm that invests across a range of attractive verticals. The company currently invests across six industries including insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation. 777 Partners seeks to acquire and build operating businesses that generate predictable cash flows for its proprietary balance sheet, while consolidating operations across like businesses to create efficiencies and economies of scale.
Set to launch this year – subject to regulatory approval, Bonza is Australia’s new independent low-cost carrier (LCC). The carrier’s inaugural route map will include 27 routes to 17 destinations, with 93 percent of routes not currently served by any airline and 96 percent not currently served by a low-cost airline. Bookings for Bonza flights will only be available on the FlyBonza app.
Boeing (NYSE:BA) is the world’s largest aerospace company and leading supplier of commercial airplanes, defense, space and security systems, as well as global services. The aerospace giant tops the list of the largest U.S. exporters, providing a significant positive impact to America’s annual GDP. Boeing supports government and commercial customers in over 150 countries and employs more than 160,000 team members worldwide. As Boeing continues to deliver for customers, they are committed to their legacy of aerospace leadership in technology and innovation and living the company’s core values of safety, quality and integrity.
Source: Boeing / PRNewswire