SINGAPORE- BOC Aviation will lease 4 aircraft to United Airlines (UA), comprising three Boeing 737 MAX 9s and one Boeing 787-9 Dreamliner as per the deals sign by them.
The lessor, a subsidiary of Bank of China Group, expands its portfolio through this strategic agreement with the major U.S. carrier.
United Airlines Deals with BOC Aviation
BOC Aviation confirmed United Airlines’ lease of four operational Boeing aircraft on October 7. CEO Steven Townend emphasized the company’s commitment to supporting United Airlines’ ongoing fleet modernization efforts.
BOC Aviation views these four aircraft as a strategic investment opportunity. While not explicitly confirmed, operational aircraft status and investment context suggest a sale-and-leaseback transaction.
The 737 MAX 9s utilize CFM International LEAP-1B engines exclusively, while the 787-9 features General Electric’s GEnX engines.
The financing of these four latest generation Boeing aircraft provides us with an incremental investment opportunity as we continue to grow our business.
Steven Townend, CEO, BOC Aviation
United Airlines currently operates 82 737 MAX 9s, 105 737 MAX 8s, 12 787-8s, 38 787-9s, and 21 787-10s. The carrier standardizes its 787 fleet with GEnx engines, foregoing the alternative Rolls-Royce Trent 1000 option.
United Other Aircraft Leases
United Airlines maintains significant lessor relationships with BOC Aviation, currently leasing 17 aircraft from the company: 16 Boeing 737 MAX 9s and one 787-9 (registration N24980).
They originally ordered the 787-9, which Boeing delivered on August 1, 2020, and established a projected 12-year lease agreement extending until August 2032 with BOC Aviation.
Boeing executed the delivery of all 16 BOC Aviation-owned 737 MAX 9 aircraft to United Airlines across 2020 and 2021, expanding the carrier’s leased fleet portfolio.
United Airlines acquired three 737 MAX 9 aircraft in 2024: Aviation Capital Group owns N77582 and N17583, while United Airlines retains ownership of N77580. Boeing’s most recent 787-9 delivery to United occurred in April 2021 with airframe N19986.
Boeing plans to deliver four additional 787-9s to United Airlines in late 2024, with two scheduled for November and two for December 2024.
United’s Q2 SEC filing confirms Boeing’s contractual obligation for eight 787s, though the airline anticipates receiving only four in the second half of 2024.
SMBC Aviation Capital announced a significant lease agreement with United Airlines in September for 20 Airbus A321neo aircraft, with deliveries beginning in 2026.
United Airlines expands its A321neo fleet amidst Boeing’s operational challenges, including the 737 MAX 9 door plug incident, certification delays for MAX 7 and MAX 10 variants, and ongoing labor disputes.
United’s Q2 report reveals preliminary agreements to lease 40 A321neo aircraft from various lessors. By July, the airline secured definitive agreements for 35 A321neos, scheduling deliveries between 2026 and 2027.
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