Commercial Aviation
CDB Aviation Leases Boeing 737 MAX Aircraft to Ethiopian Airlines
CDB Aviation partners with Ethiopian Airlines to lease two Boeing 737 MAX 8 jets supporting fleet expansion under Vision 2035 plans.
CDB Aviation and Ethiopian Airlines Forge New Partnership with 737 MAX Lease
In a significant move for the African aviation sector, Dublin-based global aircraft lessor CDB Aviation has officially partnered with Ethiopian Airlines, the continent’s largest carrier. The two companies have signed a lease agreement for two new Boeing 737 MAX 8 aircraft, marking a new chapter of collaboration. This deal, announced on November 17, 2025, underscores a broader trend of strategic fleet management as airlines navigate a complex global supply chain while pursuing ambitious growth targets.
The agreement is more than a simple transaction; it represents a strategic alignment. For Ethiopian Airlines, it’s a tactical step in its long-term “Vision 2035” strategy, which aims to dramatically expand its fleet and global network. For CDB Aviation, it serves as a crucial entry point into the burgeoning African market, partnering with its most prominent and profitable airline. The two aircraft, scheduled for delivery in the first half of 2026, will bolster Ethiopian’s fleet with modern, fuel-efficient technology, essential for sustainable growth and operational efficiency.
Ethiopian Airlines: Fueling an Ambitious “Vision 2035”
This lease agreement is a calculated component of Ethiopian Airlines’ aggressive long-term growth plan, known as “Vision 2035.” This comprehensive strategy is designed to cement the airline’s position as a dominant force in global aviation. The core objective is to more than double its operational footprint over the next decade, a goal that requires a substantial and modern fleet. The airline is not just adding planes; it is methodically building capacity to meet projected demand and expand its reach across continents.
The numbers behind “Vision 2035” are formidable. Ethiopian Airlines aims to increase its fleet to 270 aircraft and expand its destination network to 200 cities by 2035, a significant jump from its current 131 routes. To achieve this, the carrier has placed substantial orders directly with manufacturers. These include a 2023 order for 11 Boeing 787 Dreamliners and 20 Boeing 737 MAX aircraft. Furthermore, in March 2024, Ethiopian became the first African customer for the Boeing 777X, agreeing to purchase eight 777-9 jets with an option for 12 more. This blend of direct purchases and strategic leasing allows the airline to maintain its growth momentum, even when faced with manufacturing delivery delays.
Leasing aircraft, such as these two 737 MAX 8s from CDB Aviation, provides critical flexibility. It allows the airline to scale its fleet in a timely manner, bridging gaps left by production schedules and ensuring that its expansion plans remain on track. This approach mitigates risk while providing immediate access to the latest-generation aircraft, which are crucial for reducing fuel consumption and enhancing passenger experience. The 737 MAX, in particular, aligns perfectly with the airline’s focus on efficiency and modernity, supporting both regional and international routes effectively.
“We want to multiply the number of destinations by the end of the year 2035, and for this reason, we must strengthen our fleet with several new aircraft.”, Mesfin Tasew, CEO of Ethiopian Airlines
CDB Aviation: Expanding a Global Footprint into Africa
CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd., is a major force in the global aircraft leasing market. The company has built a reputation for maintaining a diverse and modern portfolio, catering to a wide range of international airlines. This latest agreement with Ethiopian Airlines is a testament to its strategic goal of expanding its global reach into new and promising markets.
The lessor’s recent activity highlights its robust market presence. CDB Aviation has recently signed deals with carriers across the globe, including Loong Air in China for six Airbus A321neos, Volaris in Mexico for five A320neo family aircraft, and Azerbaijan Airlines for two Airbus A320neos. In 2024 alone, the company executed 70 aircraft transactions, covering leases, sales, and acquisitions. Demonstrating strong forward planning, CDB Aviation has already placed 100% of its new aircraft scheduled for delivery in 2025 and 90% of those for 2026, indicating high demand for its assets.
Partnering with Ethiopian Airlines is a landmark achievement for CDB Aviation. It marks a strategic entry into the African continent with the region’s premier carrier. The African aviation market is widely projected to experience a rapid surge in growth, driven by an expanding middle class and increasing demand for both business and leisure travel. This partnership positions CDB Aviation to capitalize on this trend, establishing a strong foothold in a market with immense potential.
“The African aviation market is primed for a rapid surge in growth, with a population that increasingly wants to fly, for business and pleasure. With continued investments fueling the growth of its fleet, Ethiopian is well positioned to increase connectivity across the continent, making travel more accessible.”, Jie Chen, CEO of CDB Aviation
A Strategic Partnership for a Growing Market
The lease of two Boeing 737 MAX 8 aircraft is a strategically sound move for both CDB Aviation and Ethiopian Airlines. For Ethiopian, it is a tactical acquisition that supports its ambitious fleet modernization and expansion goals under “Vision 2035.” It provides the airline with immediate access to modern, fuel-efficient aircraft, helping to manage its growth trajectory amidst potential manufacturing delays. This ensures the carrier can continue to expand its network and enhance its service without losing momentum.
For CDB Aviation, this agreement marks a successful and significant entry into the burgeoning African aviation market. By partnering with the continent’s largest and most profitable airline, CDB Aviation not only diversifies its customer base but also positions itself at the forefront of Africa’s expected air travel boom. The deal highlights broader industry trends, including the increasing reliance on leasing as a flexible fleet management tool and the universal push towards more efficient and sustainable aircraft to meet both economic and environmental goals.
FAQ
Question: What is the core of the agreement between CDB Aviation and Ethiopian Airlines?
Answer: CDB Aviation will lease two new Boeing 737 MAX 8 aircraft to Ethiopian Airlines. The aircraft are scheduled for delivery in the first half of 2026.
Question: Why is this deal significant for Ethiopian Airlines?
Answer: It is a key part of the airline’s “Vision 2035” long-term strategy to expand its fleet to 270 aircraft and its network to 200 destinations. Leasing helps the airline manage its growth and mitigate the impact of potential aircraft delivery delays from manufacturers.
Question: What does this partnership mean for CDB Aviation?
Answer: It marks CDB Aviation’s strategic entry into the growing African aviation market by partnering with the continent’s largest and most successful carrier.
Sources: CDB Aviation Press Release
Photo Credit: Boeing
Aircraft Orders & Deliveries
Luxair Orders Boeing 737-10 Jets at Farnborough 2026
Luxair converts 737-10 options to firm orders at Farnborough 2026, reaching 12 total 737 family aircraft on order.
Luxair has expanded its narrowbody fleet commitment by converting two options for the Boeing 737-10 into firm orders and securing two additional options during the 2026 Farnborough International Airshow.
The July 21, 2026, announcement by The Boeing Company brings the Luxembourg flag carrier’s total firm order book for the 737 family to 12 aircraft. The agreement supports Luxair’s long-term fleet modernization strategy, which focuses on increasing passenger capacity while reducing the airline’s environmental footprint.
Fleet expansion and aircraft specifications
Once all deliveries are completed, Luxair’s Boeing 737 fleet will consist of eight Boeing 737-8s and four Boeing 737-10s. The airline placed its initial order for two 737-10 aircraft in 2024 and is now moving to integrate the new-generation narrowbodies into a network that serves more than 100 destinations across Europe and beyond.
Luxair has selected a 213-seat configuration for its Boeing 737-10 aircraft. The cabin will feature the Boeing Sky Interior with redesigned seats offering a 76 cm pitch. The 737-10 is the largest model in the MAX family, capable of carrying up to 230 passengers in a maximum high-density configuration, with a range of 3,100 nautical miles (5,740 km).
“This agreement represents another important milestone in the execution of our long-term fleet strategy,” said Gilles Feith, Chief Executive Officer of Luxair. “As we continue to grow, delivering an outstanding passenger experience remains at the heart of every fleet decision we make. The Boeing 737-10 provides the additional capacity, operational efficiency and flexibility we need to support future demand while maintaining the high standards of quality, comfort and service our customers expect from Luxair.”
Environmental and operational targets
The integration of the Boeing 737-10 is central to Luxair’s sustainability initiatives. Powered by CFM International LEAP-1B engines, the new aircraft deliver a 20 percent reduction in fuel use and emissions compared to the older generation aircraft they will replace. According to Boeing, each new-generation 737 saves an average of 8 million pounds of carbon dioxide emissions annually.
The operational efficiency of the new fleet is designed to support Luxair’s growth trajectory following a strong performance in 2025, during which the airline transported 2.6 million passengers.
“Both the 737-8 and 737-10 are perfectly suited across Luxair’s network, increasing capacity on to its regional routes, comfortably serving more passengers on more routes with the lowest cost per seat of any single-aisle airplane,” said Ricardo Cavero, Vice President of Europe and Israel Commercial Sales and Marketing for The Boeing Company. “With the selection of the 737-8 and 737-10, Luxair is building a more profitable and sustainable operation.”
AirPro News analysis
Luxair’s decision to convert options into firm orders at the Farnborough International Airshow signals strong confidence in the Boeing 737-10 as the cornerstone of its high-density European routes. By standardizing its future narrowbody growth around the 737-8 and 737-10, we see Luxair prioritizing fleet commonality, which traditionally lowers maintenance and crew training costs. The retention of two new purchase rights also provides the carrier with a low-risk mechanism to secure future delivery slots in a constrained global supply chain environment.
Sources: The Boeing Company
Photo Credit: Boeing
Commercial Aviation
ACG and Skymark Airlines Finalize Seven Boeing 737-10 Leases
Aviation Capital Group and Skymark Airlines sign leases for seven Boeing 737-10s, with deliveries starting 2028 to grow Haneda capacity.
Aviation Capital Group LLC (ACG) and Japanese carrier Skymark Airlines (BC) have finalized lease agreements for seven Boeing 737-10 aircraft, with deliveries scheduled to begin in 2028.
Announced on July 20, 2026, at the Farnborough International Airshow, the agreement supports Skymark’s strategy to increase passenger capacity on domestic routes operating out of the highly slot-constrained Tokyo Haneda Airport (HND). The Boeing 737-10 is the largest variant in the 737 MAX family, offering the airline a higher-density configuration compared to its existing fleet.
Fleet Modernization and Capacity Growth
Skymark currently operates a fleet of 30 aircraft, consisting of Boeing 737-800s and Boeing 737-8s. According to fleet data reported by ch-aviation, the airline plans to configure the newly leased Boeing 737-10s with 207 seats. This represents an increase of 30 seats per aircraft over its current 177-seat Boeing 737-800 and 737-8 configurations.
The capacity increase is critical for Skymark’s operations at HND, where adding new flights is restricted by slot availability. Aviation Week reports that Skymark is offering 6.03 million seats across its domestic network during the summer 2026 season, representing a 0.4 percent increase year-over-year. The introduction of the larger Boeing 737-10 will allow the carrier to grow its passenger volume without requiring additional departure slots.
“For airlines serving high-density markets from slot-constrained airports, the ability to add capacity, improve efficiency, and maximize revenue opportunities is critical,” ACG Chief Executive Officer and President Thomas Baker stated in the July 20 press release.
Expanding Boeing 737 MAX Commitments
The ACG lease agreement builds on Skymark’s existing commitments for the Boeing 737 MAX family. Aviation Week notes that the carrier already holds firm orders directly with The Boeing Company for seven Boeing 737-10s, alongside a mix of orders and lease agreements for seven Boeing 737-8s. Skymark became the first Japanese airline to introduce the Boeing 737-8 into commercial service in May 2026, debuting the aircraft on the route between HND and Fukuoka Airport (FUK).
Skymark Airlines President and Representative Director Yoshihiro Miwa highlighted the operational benefits of the new aircraft.
“We look forward to operating the 737-10, which boasts the largest capacity in the MAX series, and welcoming even more passengers to enjoy the Skymark experience.”
The Boeing 737-10 is also expected to deliver improved operating economics. A May 2026 Skymark fleet presentation cited by ch-aviation estimated a 19 percent reduction in fuel costs per seat for the Boeing 737-10 compared to the older-generation Boeing 737-800.
Aviation Capital Group’s Farnborough Momentum
The Skymark deal marks the second major Boeing 737-10 placement announced by ACG in July 2026. On July 14, 2026, the lessor announced long-term lease agreements with Canadian carrier WestJet (WS) for 13 Boeing 737-10 aircraft.
The consecutive agreements underscore strong lessor demand for the largest MAX variant as airlines seek to maximize yield in constrained airport environments.
AirPro News analysis
We view Skymark’s decision to lease additional Boeing 737-10s as a pragmatic approach to the strict slot limitations at Tokyo Haneda Airport. By upgauging from the Boeing 737-800 to the 737-10, Skymark can add 30 seats per departure. This strategy mirrors a broader industry trend where carriers operating in congested hubs rely on larger narrowbody variants to drive growth when frequency expansion is impossible. Securing these airframes through a lessor like ACG provides Skymark with delivery certainty starting in 2028, insulating the carrier’s near-term growth plans from potential direct-from-manufacturer delivery delays.
Sources: Aviation Capital Group
Photo Credit: Aviation Capital Group
Aircraft Orders & Deliveries
Riyadh Air Orders 31 A350-1000s and 67 Boeing 787s
Riyadh Air firms up A350-1000 and 787 Dreamliner orders at Farnborough 2026, targeting 100 global destinations by 2030.
Saudi Arabian startup carrier Riyadh Air (RX) has expanded its future widebody fleet by firming up an order for six additional Airbus A350-1000 aircraft at the Farnborough International Airshow on July 20, 2026. The agreement exercises purchase rights from a 2025 commitment for up to 50 airframes, bringing the airline’s total firm backlog for the European manufacturer’s largest twin-engine jet to 31 aircraft.
In a press release issued during the airshow, Airbus confirmed the transaction and noted that Riyadh Air will become the first operator of the A350-1000 in Saudi Arabia. The acquisition aligns with the carrier’s mandate to support the national Vision 2030 strategy, which targets serving more than 100 global destinations by the end of the decade.
Expanding the Airbus widebody footprint
The Airbus A350-1000 offers a maximum non-stop range of 9,700 nautical miles (18,000 kilometers), providing the operational capability required for Riyadh Air’s planned ultra-long-haul services. Airbus states the aircraft delivers a 25 percent advantage in fuel burn, operating costs, and carbon emissions compared to previous-generation widebody aircraft.
Riyadh Air Chief Financial Officer Adam Boukadida stated that the finalized order reflects continued confidence in the airline’s growth trajectory and the broader Saudi aviation sector.
“Increasing our A350-1000 commitment to 31 aircraft strengthens the foundation of our future network and supports our ambition to serve more than 100 global destinations by 2030 while delivering a premium guest experience,” Boukadida said.
Airbus Executive Vice President of Sales for Commercial-Aircraft Benoît de Saint-Exupéry added that the commitment highlights the aircraft’s efficiency and range. He noted the A350-1000 will play a central role in positioning Saudi Arabia as a leading international aviation hub. As of the end of June 2026, Airbus had recorded 1,595 firm Orders for the A350 family from 68 customers worldwide.
Concurrent Boeing 787 Dreamliner expansion
The Airbus finalization occurred alongside a separate widebody order placed with The Boeing Company. According to reporting by Al Arabiya, Riyadh Air also confirmed an order for 28 additional Boeing 787 Dreamliner aircraft at the Farnborough event on July 20.
This separate agreement introduces the Boeing 787-10 variant to the carrier’s fleet. Following the announcement, Riyadh Air’s total firm commitment for the Dreamliner family stands at 67 aircraft.
Riyadh Air Chief Executive Officer Tony Douglas told Al Arabiya that the introduction of the 787-10 and the expanded Dreamliner backlog marks another significant milestone in the airline’s journey toward its 2030 network goals. The carrier recently opened ticket sales for its initial overseas routes as it prepares for the launch of commercial operations.
AirPro News analysis
We view Riyadh Air’s dual widebody orders at Farnborough as a clear signal of the carrier’s aggressive timeline and robust capital backing. By splitting its high-capacity, long-haul requirements between the Airbus A350-1000 and the Boeing 787-10, the airline mitigates delivery risk in an era of constrained aerospace supply chains. Securing 31 firm A350-1000s and 67 Boeing 787s provides the necessary metal to rapidly scale a global network from scratch. However, the operational complexity of inducting two distinct widebody types simultaneously will require substantial training, tooling, and maintenance infrastructure investments prior to the Launch of commercial flights.
Sources: Airbus
Photo Credit: Airbus
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