Leasing & Financing Division of General Electric Aircraft has confirmed that it has placed an order for 40 Boeing aircraft worth $ 4 billion at list prices.
The order includes 20 737 MAX 8 aircraft and 20 737-800 Next Generation. The order was booked last year, but so far had attributed to " unidentified customer " by Boeing.
GE Capital Aviation Services ( GECAS ) said the new aircraft will help meet the growing demand for more fuel-efficient aircraft of its customers. "Our airline customers require more fuel efficient aircraft to compete in the market ," said Norman CT Liu, GECAS chief executive , said in a statement.
GECAS has made total orders for 95 units of 737 and 387 MAX 8 aircraft of new generation 737-800 so it is the largest buyer of the two models in the leasing industry.
A slowdown in global travel demand , coupled with high fuel prices , has adversely affected the profitability of many airlines around the world in recent years. As a result , airlines have been looking to keep their costs under control to try to maintain profitability.
That in turn has led to increased demand for aircraft fuel efficiency. The 100-200 seat narrow-body - or single aisle - is forecast aircraft market to generate $ 20 trillion over the next 20 years.
The sector is currently dominated by Airbus A320 and Boeing 737 aircraft , but other companies are also trying to seize the market. Boeing has stated that its next-generation 737 offer " lowest operating costs in its class ."