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WestJet to Add Five New Boeing 737-8 MAX Jets on Lease From CBD Aviation and Avolon

WestJet will acquire five new Boeing 737-8 MAX jets on lease, with deliveries expected in early 2025.  Three of the aircraft will be leased from CBD Aviation, while the other two will be leased from Avolon.

WestJet Boing 737-8 MAX - Courtesy WestJet

On Tuesday (January 23, 2024), WestJet announced that they will acquire five brand new Boeing 737-8 MAX jets on lease, with delivery expected in early 2025.  Three of the aircraft will be delivered on lease from the China Development Bank Financial Leasing Co., Ltd. (CBD Aviation), while the other two will be leased from the international aircraft lessor, Avolon.  When combined with their existing orderbook, WestJet will now receive up to 22 new 737-8s before the end of 2025, and up to 62 more of the type before the end of 2028.  This comprises the largest single-aisle orderbook of any Canadian airline.

In Tuesday’s announcement, WestJet Group’s EVP and Chief Financial Officer, Mike Scott, said,

“We are adding these five aircraft to our 737 MAX family very soon and look forward to this additional capacity enhancing our already forecasted fleet expansion, further enabling our execution of providing affordable and diverse air travel options for our guests.  As Canada's coast-to-coast leisure champion and western home carrier, the continued expansion of our fleet in tandem with our low-cost foundation is a key accelerator of our growth strategy.”

Also commenting on the lease agreements, CDB Aviation’s Chief Executive Officer, Jie Chen, said,

"CDB Aviation values our expanding relationship with WestJet and we are pleased to be able to support the airline's fleet expansion in an environmentally friendly manner as we lease these three new fuel-efficient B737-8 aircraft direct from our orderbook.”

Avolon’s President and Chief Executive Officer, Paul Geaney, added,

“We’re delighted to be expanding on our strong relationship with Westjet and are pleased to support WestJet's fleet expansion needs from our Boeing orderbook.  We expect to see continued growth for the aviation sector in the coming years, including in North America, and are excited to provide a fleet solution to a strategic customer in the region.”

In 27 years of service, WestJet has cut airfares for Canadians in half and increased the flying population around Canada by over 50 percent.  The airline launched in 1996 with three aircraft, 250 employees and five destinations, and has now grown to more than 180 aircraft and 14,000 employees, offering service to over 100 destinations in 26 countries.


Source: WestJet

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