- Air Canada (TSX:AC) announced Tuesday that it has agreed to lease eight Boeing 737-8 aircraft from BOC Aviation Ltd.
- The eight aircraft are scheduled for delivery this year and will enter service in 2025 after required modifications.
- Air Canada’s president and CEO said the new aircraft will provide additional capacity while supporting one of its sustainability goals of mitigating emissions.
- Shares of Air Canada (TSX:AC) are up 0.7 per cent, trading at C$18.03 as of 10:45 am ET.
Air Canada (TSX:AC) announced Tuesday that it has agreed to lease eight Boeing 737-8 aircraft from BOC Aviation Ltd.
Scheduled for delivery this year, according to a news release, the eight aircraft will undergo required modifications before entering service in 2025.
“We look forward to these aircraft entering into service next year, upon the completion of some required modifications. These eight, brand-new, fuel- and cost-efficient 737-8s will provide more fleet flexibility and additional capacity while supporting one of our sustainability goals of mitigating emissions,” said Michael Rousseau, Air Canada president and chief executive officer, said in a statement.
Air Canada stated the aircraft will initially operate with a single economy class layout until they are reconfigured to fully match Air Canada’s narrow-body, two-cabin standard at a later date. All eight aircraft will be powered by CFM LEAP-1B engines.
“We are pleased that Canada’s flag carrier, Air Canada, is working with us once again as it strengthens its network,” Steven Townend, chief executive officer and managing director of BOC Aviation, said in a statement. “Continued growth in passenger travel is stimulating demand for aircraft, which we have been able to address for Air Canada in this transaction with eight aircraft delivering from our 100 per cent latest technology orderbook.”
BOC also leased three used 737-8 aircraft to Canadian airline WestJet in early June.
Canada’s largest airline, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. Its Air Canada Cargo freight division provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft.
BOC Aviation is a leading global aircraft operating leasing company with a fleet of 688 aircraft owned, managed and on order. Its owned and managed fleet was leased to 90 airlines in 45 countries and regions worldwide as of March. BOC Aviation’s headquarters is in Singapore, and it is listed on the Hong Kong Stock Exchange (HKEx code: 2588).
Shares of Air Canada (TSX:AC) are up 0.7 per cent, trading at C$18.03 as of 10:45 am ET.
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(Top photo of Boeing 737-8 aircraft: Air Canada)