BOC Aviation has announced it has signed a lease agreement with European travel group TUI for the supply of 14 Boeing 737 MAX 8 aircraft. The new airplanes will join an already sizeable fleet of the type in service with TUI Group airlines and are scheduled to be delivered to the group between 2025 and 2026. All the aircraft being supplied under the terms of the deal will be powered by CFM LEAP-1B engines
“With this financing, we are once more working with our existing customer, TUI, as it builds its fleet of new generation aircraft,” said Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation. “With the delivery of these aircraft anticipated over the next two years, this transaction will contribute to our investment and revenue pipelines.”
As one of the oldest Boeing 737 operators in the world, these latest additional aircraft will add to the Group’s existing fleet of over 40 737 MAX aircraft with seven operated by TUI Fly (Germany), five by TUI Fly (Belgium), three with TUI Fly 9Nordic), 21 with TUI Airways (UK), and six with TUI Fly (Netherlands). It was TUI Airways’ predecessor, Britannia Airways that first took delivery of Europe’s first Boeing 737 when its first 737-200 was delivered to London-Luton Airport in 1968.
TUI has become one of the world’s leading tourism businesses and consists of several inclusive tour operators. Under the TUI umbrella brand are 1,600 travel agencies and online booking portals, plus five airlines with around 150 aircraft, over 400 hotels, 15 cruise liners, and a presence in all major holiday destinations around the globe.
BOC Aviation is a major global aircraft operating leasing company with a fleet of 693 aircraft owned, managed, and on order. As of September 30, 2024, the company’s owned and managed fleet was leased to 93 airlines in 48 countries and regions worldwide. BOC Aviation is listed on the Hong Kong Stock Exchange and has its headquarters in Singapore with further offices in Dublin, London, New York, and Tianjin.