Leasing company Avolon cancels order for 75 Boeing MAX jets, 4 Airbus A330s

Aircraft lessor Avolon has cancelled an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023 as it adjusts its order book to the industry disruption caused by the coronavirus pandemic, the Dublin-based firm said on Friday.

FILE PHOTO: A passenger safety instruction card of Jet Airways Boeing 737 MAX 8 plane is pictured during its induction ceremony at the Chhatrapati Shivaji International airport in Mumbai, India, June 28, 2018. REUTERS/Abhirup RoyDUBLIN: Aircraft lessor Avolon has cancelled an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023 as it adjusts its order book to the industry disruption caused by the coronavirus pandemic, the Dublin-based firm said on Friday.

That will reduce its aircraft commitments between 2020 and 2023 to 165 aircraft from 284,"significantly reducing our near-term capital commitments," Chief Executive Domhnal Slattery said in a statement. Privately-held Avolon, the world's third-biggest lessor of commercial jets, is 70per cent-owned by a subsidiary of Chinese conglomerate Hainan Group.

When Avolon struck a deal in 2017 for 75 MAX planes and an option on 20 more, it was valued at nearly US$11 billion at list prices.

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Coronavirus: 129 stop-work orders issued to companies not implementing safe distancing at workplaceSINGAPORE - More than 850 workplaces have been inspected and 129 stop-work orders, as well as 260 remedial orders (ROs), have been served to companies in a bid to enforce safe distancing at workplaces, said the Ministry of Manpower (MOM) in an update on Thursday (April 2).. Read more at straitstimes.com. Yes now you talking my language 😱Why govt still no consideration of lock down for a week to slow down the situation or at least to implement certain curfew or mandatory restrictions? There are many members of public still unable to hv ‘social distance’ during peak hours! Tt may be the cause of being infected! Yes finally god bless for this article I pray for this to knock some sense to my ignorant bosses 🙏
Source: The Straits Times - 🏆 8. / 63 Read more »