777 Partners orders 30 additional 737 MAX
Miami-based investment company 777 Partners has announced the purchase of 30 737 MAX.
The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX. The…
Miami-based investment company 777 Partners has announced the purchase of 30 737 MAX.
The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX. The order is the fourth placed this year for the single-aisle jets. The deal is valued at $3.7 billion at list prices and will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.
Deal will accelerate 777’s “quest for efficiencies”
Josh Wander, managing partner of 777 Partners said: “We’re delighted to be able to announce the almost doubling in size of our order with Boeing. We have long been confident in the economics of the 737 MAX family but we are especially excited about the 737-8-200 variant which represents the bulk of our additional orders. We’re confident that this aircraft will be the hallmark ULCC/LCC asset, particularly in the sub-200 seat market. As travel demand returns, 777 has accelerated our quest for efficiencies in both operating cost and carbon footprint at our operating carriers. In these areas the 737-8 is compelling and the 737-8-200 is simply unrivalled.”
The 737 MAX family reduces fuel use and carbon emissions by at least 14 per cent compared to the aircraft it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines.
Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing said: “We greatly appreciate 777 Partners for their trust in our products, including repeat orders for the 737 MAX and expanding their fleet to include the high-capacity 737-8-200 model. 777 Partners is enabling growth for its affiliated low-cost carriers by leveraging the 737 family’s flexibility, reliability and efficiency to serve passengers for years to come.”
777 Partners invests across a number of high growth verticals. . The company was founded in 2015 and initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.
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