Aircraft Orders & Deliveries
AerCap Orders 15 Boeing 787-9 Dreamliners at Farnborough 2026
AerCap places a firm order for 15 Boeing 787-9s at Farnborough 2026, extending deliveries to 2033 with GEnx-1B engines.
AerCap Holdings N.V. has placed a firm order for 15 Boeing 787-9 Dreamliner aircraft, extending the lessor’s delivery pipeline for the widebody family through 2033.
Announced on July 21, 2026, at the Farnborough International Airshow, the agreement includes substitution rights allowing the lessor to convert orders to the larger Boeing 787-10 Dreamliner variant. The transaction, detailed in press releases from both companies, solidifies AerCap’s position as the largest global owner of the Boeing 787 Dreamliner family, bringing its total portfolio to approximately 140 of the type.
Fleet expansion and Delivery timeline
Prior to this agreement, AerCap held 125 commitments for the Boeing 787 Dreamliner. According to reporting by Aviation Week, the lessor had only nine aircraft remaining to be delivered from that previous backlog, with those final handovers scheduled to conclude by the third quarter of 2028.
The new order provides AerCap with a continuous stream of widebody capacity extending into the next decade. AerCap Holdings N.V. Chief Executive Officer Aengus Kelly stated that the addition of the 15 aircraft strengthens the company’s market position.
“As demand for modern, fuel-efficient widebody airplanes continues to grow, this transaction enables us to provide our customers with greater access to one of the industry’s most versatile and sought-after airplane families,” Kelly said. “The 787 has consistently demonstrated strong operating economics and exceptional performance across a wide range of route networks.”
Engine selection and variant flexibility
AerCap selected GE Aerospace GEnx-1B engines to power the 15 newly ordered aircraft. Mohamed Ali, President and CEO of GE Aerospace Commercial Engines & Service, noted that the engine delivers proven reliability and time on wing for operators.
The contract’s substitution rights offer AerCap the ability to adjust its future fleet composition based on airline customer needs. The Boeing 787-10 Dreamliner variant provides 50 additional seats compared to the Boeing 787-9 Dreamliner. The Boeing Company states that the larger variant achieves a 25 percent reduction in fuel use and emissions relative to the older generation airplanes it is designed to replace.
Stephanie Pope, President and CEO of Boeing Commercial Airplanes, highlighted the importance of the lessor’s ongoing investment in the program.
“AerCap’s continued investment in the 787 Dreamliner family underscores the airplane’s role in enabling long-haul connectivity and superior economics for airlines,” Pope said. “We deeply value this partnership and look forward to supporting AerCap and its customers as they open and sustain new long-haul routes to further connect the world.”
Widebody leasing market dynamics
The Farnborough International Airshow 2026 has featured multiple widebody orders, reflecting a broader industry focus on long-haul fleet renewal. Aviation Week reports that the widebody leasing market is currently experiencing strong demand. Airlines are actively seeking to expand capacity but face ongoing supply chain constraints and delays in new aircraft deliveries from manufacturers.
To bypass these direct-order backlogs, carriers are increasingly turning to lessors that have secured future delivery slots. AerCap’s existing Boeing 787 Dreamliner fleet is currently leased to major global operators across multiple alliances and regions. Current operators of AerCap’s 787s include Virgin Atlantic (VS), Thai Airways (TG), LATAM Airlines (LA), KLM Royal Dutch Airlines (KL), EgyptAir (MS), and Air Europa (UX).
AirPro News analysis
We view this order as a strategic move by AerCap to maintain its dominance in the widebody leasing sector amid prolonged original equipment manufacturer (OEMs) supply chain constraints. By securing delivery slots through 2033, AerCap positions itself to capitalize on airlines’ urgent need for capacity. The inclusion of substitution rights for the Boeing 787-10 Dreamliner provides crucial flexibility, allowing the lessor to adapt to shifting airline requirements for higher-density long-haul routes over the next decade. As carriers continue to face delivery delays for direct orders, lessors with guaranteed near-term and medium-term widebody pipelines will hold significant pricing power in the market.
Sources: The Boeing Company
Photo Credit: The Boeing Company
Aircraft Orders & Deliveries
SMBC Aviation Capital Orders 100 Boeing 737 MAX at Farnborough
SMBC Aviation Capital ordered 60 Boeing 737 MAX 10 and 40 MAX 8 jets at the 2026 Farnborough Airshow.
SMBC Aviation Capital placed a firm order for 100 Boeing 737 MAX aircraft on July 20, 2026, marking the lessor’s first direct commitment to the highest-capacity Boeing 737 MAX 10 variant.
Announced during the Farnborough International Airshow in the United Kingdom, the agreement includes 60 Boeing 737 MAX 10 and 40 Boeing 737 MAX 8 jets. According to a Boeing press release, the transaction represents the single largest order for the Boeing 737 MAX 10 placed by an aircraft leasing company. The acquisition reflects a broader industry trend of lessors upgauging to larger narrowbody aircraft to meet airline demand.
Expanding the narrowbody portfolio
The order increases SMBC Aviation Capital’s total owned, managed, and committed portfolio for the Boeing 737 MAX family to 450 aircraft. The lessor cited sustained demand for technologically advanced narrowbody aircraft and a forecasted 4% annual growth in global passenger traffic over the next two decades as primary drivers for the acquisition.
SMBC Aviation Capital CEO Peter Barrett stated the transaction will ensure airline customers have access to a long-term pipeline of new technology aircraft.
“Our partnership with Boeing spans over two decades and this order reflects market dynamics as our airline and investor customers look to upgauge to the 737-10,” Barrett said. “This order will support their growth ambitions well into the next decade.”
Boeing Commercial Airplanes President and CEO Stephanie Pope noted that the commitment reflects strong demand for the efficiency and versatility of the Boeing 737 MAX family. Lessors globally have ordered 1,450 Boeing 737 MAX jets, accounting for 20% of the manufacturer’s backlog for the type.
Boeing 737 MAX 10 certification and parallel Airbus orders
The Boeing 737 MAX 10 offers a maximum passenger capacity of 230 and a range of 3,100 nautical miles. The aircraft remains in the certification process. According to reporting by Aviation Week on July 16, 2026, Boeing indicated that certification flight testing for the variant is 98% complete. Remaining activities include development-assurance reviews and system-safety submissions.
The Boeing agreement was part of a broader acquisition strategy executed by SMBC Aviation Capital at the Farnborough International Airshow. On July 20, 2026, the lessor announced a parallel order for 100 Airbus A320neo family aircraft, comprising 65 Airbus A321neo and 35 Airbus A320neo jets. This brought the company’s total narrowbody commitments at the event to 200 aircraft.
AirPro News analysis
We view SMBC Aviation Capital’s dual 100-aircraft orders with both Boeing and Airbus as a clear indicator of lessor confidence in long-term narrowbody demand. The specific pivot toward the Boeing 737 MAX 10 and the Airbus A321neo highlights a definitive market preference for the largest available single-aisle variants. As airlines seek to maximize capacity on slot-constrained routes while maintaining the operating economics of narrowbody aircraft, lessors are adjusting their portfolios to match this upgauging trend. The Boeing 737 MAX 10 order is particularly notable given the aircraft’s ongoing certification process, signaling that major financial stakeholders remain comfortable with the program’s trajectory.
Sources: Boeing
Photo Credit: Boeing
Aircraft Orders & Deliveries
Avolon Acquires 11 Airbus A321neo Jets from Frontier Airlines
Avolon acquires 11 A321neo delivery slots from Frontier Airlines, valued at US$1.425B, as the carrier reduces capital commitments after a 2025 net loss.
Aircraft lessor Avolon Holdings Limited will acquire 11 Airbus A321neo aircraft originally ordered by Frontier Airlines, absorbing near-term delivery slots scheduled between November 2026 and June 2027.
The transaction was unanimously approved by the board of directors of Avolon parent company Bohai Leasing Co Ltd on June 30, 2026. The agreement allows the Dublin-based lessor to expand its narrowbody portfolio amid ongoing global supply chain constraints. For Frontier Airlines, the transfer reduces capital commitments following a financially challenging 2025 in which the United States-based ultra-low-cost carrier reported a net loss of US$137 million.
Transaction details and delivery timeline
According to a regulatory filing submitted to the Shenzhen Stock Exchange (SZSE), the 11 aircraft hold a combined list value of US$1.425 billion based on 2018 Airbus SE catalogue prices. The final purchase price remains confidential under the terms of the agreement.
The aircraft are scheduled to join the Avolon fleet between November 2026 and June 2027. These airframes are drawn from a November 14, 2021, order placed by Frontier Airlines for 91 Airbus A321neo jets.
Fleet strategy and market dynamics
The agreement highlights shifting fleet strategies among operators and lessors. Frontier Group Holdings, the parent company of Frontier Airlines, generated US$3.724 billion in revenue during 2025 but ultimately posted a US$137 million net loss. Offloading these near-term delivery slots provides the airline with a mechanism to adjust its capacity growth and financial obligations.
Avolon gains access to highly sought-after narrowbody aircraft. Original equipment manufacturer (OEM) delivery delays have constrained the supply of new aircraft, driving intense demand in the leasing market for fuel-efficient models like the Airbus A321neo.
AirPro News analysis
We view this transaction as a mutually beneficial realignment of assets driven by current macroeconomic pressures in the aviation sector. Frontier Airlines secures immediate relief from the capital expenditure required to induct 11 new aircraft over an eight-month period, which aligns with the carrier’s need to stabilize its balance sheet after its 2025 losses. Avolon secures premium, near-term delivery slots that are virtually impossible to obtain directly from Airbus at this stage. Given the persistent shortage of narrowbody lift globally, Avolon is well-positioned to place these aircraft with operators eager for capacity.
Sources: Shenzhen Stock Exchange
Photo Credit: Airbus
Aircraft Orders & Deliveries
CDB Aviation Signs 787-9 Sale Leaseback with Lufthansa
CDB Aviation completes its first direct lease with Lufthansa Airlines, covering two Boeing 787-9s with Allegris cabins.
CDB Aviation has executed a sale and leaseback agreement with Lufthansa Airlines for two Boeing 787-9 aircraft, marking the Irish lessor’s first direct leasing transaction with the German flag carrier.
Announced in a company press release on July 1, 2026, the transaction involves widebody aircraft delivered to Lufthansa in late 2025 and early 2026. The deal expands CDB Aviation, a wholly owned subsidiary of China Development Bank Financial Leasing Co., Ltd., into a direct relationship with a top-tier European credit while adding new-technology assets to its portfolio.
Transaction details and delivery timeline
The two Boeing 787-9s involved in the agreement feature Lufthansa’s new Allegris cabin configuration. The lessor is acquiring the aircraft specifically from Lufthansa Asset Management Leasing GmbH, the airline’s dedicated asset management entity.
The leaseback arrangement, structured under operating leases, is expected to close by mid-July 2026. This timeline aligns with CDB Aviation’s broader strategy to grow its aviation leasing assets under Hong Kong listing rules, securing long-term placements for highly liquid aircraft types.
Expanding the Lufthansa Group relationship
While this agreement represents the first direct aircraft lease between CDB Aviation and Lufthansa Airlines, the lessor has an established history with the broader corporate group. CDB Aviation previously executed aircraft sales to Lufthansa Group sister carriers Austrian Airlines and Eurowings, and has also conducted business with Lufthansa’s engine leasing division.
Gavan Daly, Head of Commercial for Europe, the Middle East, and Africa at CDB Aviation, highlighted the strategic value of formalizing a direct lease with the mainline carrier.
“This sale and leaseback agreement with Lufthansa represents a key transaction for CDB Aviation, as we continue to grow the portfolio with top-tier credits and new technology, liquid assets.”
AirPro News analysis
We view this transaction as a standard but strategic portfolio enhancement for CDB Aviation, aligning with the broader industry trend of lessors targeting highly liquid, new-generation widebody aircraft. Securing a direct lease with Lufthansa Airlines diversifies the lessor’s European footprint while providing the airline with capital flexibility following its recent fleet modernization investments. The Boeing 787-9 remains a highly sought-after asset in the secondary market, minimizing residual value risk for the lessor over the life of the operating lease.
Sources: CDB Aviation
Photo Credit: Lufthansa Group
