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Boeing anounced orders for 737 MAX 10s

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The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever.

LE BOURGET, FRANCE - Boeing and BOC Aviation Limited announced a memorandum of understanding for 10 737 MAX 10 airplanes, subject to internal approvals, at the 2017 Paris Air Show. The announcement is valued at approximately $1.25 billion at list prices and will be posted to the Boeing Orders and Deliveries website once finalized.

BOC Aviation is one of the first aircraft operating leasing companies to order the newest member of the 737 MAX family. The company has committed to more than 300 Boeing aircraft since establishment, it took delivery of its 200th Boeing airplane in March 2017 and has an additional 74 737 MAXs on order.

"BOC Aviation and Boeing have been partners for more than 20 years, providing the very best airplanes to their customers around the world and the 737 MAX 10, with its lowest seat costs of any single-aisle airplane, will continue this tradition," said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. "We are honored that BOC Aviation has again placed its confidence in Boeing and the 737 MAX family."

The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.

Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Also, Boeing and GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric announced an order for 20 737 MAX 10s at the Paris Air Show, converting 20 of its current MAX orders to the larger MAX 10.

"This 737 MAX 10 order further enhances our fleet with the newest technology, offering our customers commonality along with increased range and available seating," said Alec Burger, President and Chief Executive Officer of GECAS. "Combining the increased capacity of the 737 MAX 10 and the CFM International LEAP-1B engines offers our customers many benefits."

GECAS has 170 737 MAX airplanes on order, the largest of any aircraft leasing company.

"Simply put, the 737 MAX 10 will be the most profitable airplane the single-aisle sector has ever seen," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "GECAS understands the benefits the 737 MAX 10 will bring to its customers across the globe. We appreciate their continued confidence in the 737 MAX family."

Like all of Boeing's 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, the Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Boeing and CDB Aviation Lease Finance (CDB Aviation) announced the signing of a Memorandum of Understanding (MOU) for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners at the 2017 Paris Air Show. With this commitment, valued at $7.4 billion at list prices, CDB Aviation will become one of the launch customers for the 737 MAX 10, the newest member of Boeing's 737 MAX family.

Included in this agreement is the conversion of six 737 MAX 8 orders to the new 737 MAX 10s by the lessor from a previous order.

The agreement will be reflected on the Boeing Orders and Deliveries website once finalized.

"Our new vision is to propel CDB Aviation into a formidable global aviation leasing platform," said Peter Chang, President and Chief Executive Officer, CDB Aviation. "The 737 MAX, the fastest-selling airplane in Boeing history, and the cutting-edge 787 Dreamliner will play a key role in bolstering our fleet and advancing our global market presence to fulfill the vision."

Based in Dublin, Ireland, CDB Aviation operates as a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., LTD (CDB Leasing) (HKEX stock code:1606). With a committed fleet of over 300 aircraft, CDB Aviation has over 10 years' experience in the business and is one of the largest and most influential Chinese-owned aviation leasing companies.

"We are honored to bring our enduring partnership with CDB Aviation to a new level, with the new commitment for additional Boeing single-aisle and widebody airplanes to meet the needs of their customers," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "This further demonstrates the popularity of our latest, fuel efficient 737 MAX and 787 airplane models."

Finally, Boeing and the Lion Air Group announced a commitment for 50 737 MAX 10 airplanes at the 2017 Paris Air Show. The announcement, valued at approximately $6.24 billion at list prices, will be posted to the Boeing Orders & Deliveries website once finalized.

"The 737 MAX family of airplanes is the perfect combination of single-aisle aircraft for the Lion Air Group, with their new level fuel-efficiency as well as range and capacity capabilities," said Lion Air Group President Edward Sirait. "The Lion Air Group was first in the world to put the 737 MAX 8 into service and the first to order the 737 MAX 9, and we continue to lead the way again with this commitment for 50 737 MAX 10s and help launch the latest version of the 737."

The Lion Air Group is one of the world's largest Next-Generation 737 operators and previously ordered 201 MAXs. The airline is also the launch customer of the 737 MAX 9 and its subsidiary, Malaysia-based Malindo Air was the first airline to take delivery and operate the 737 MAX 8 in commercial service.

"Boeing is honored that the 737 family of airplanes continues to play an integral role in the Lion Air Group's fleet and growth strategy," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "This commitment is a testament to the capabilities of the 737 MAX family of airplanes and we look forward to delivering both the 737 MAX 9 and MAX 10 to them in the coming years."

Boeing, Norwegian Announce Flight Training Agreement, Order for Two 737 MAX 8s
Boeing and Norwegian announced at the 2017 Paris Air Show that the carrier has selected Boeing to provide all its flight training needs.

Last year at the 2016 Farnborough International Airshow, Norwegian committed to Global Fleet Care (formerly known as GoldCare) coverage for its 737 MAX fleet and expanded coverage for the airline's entire 787 fleet. These services agreements represented the largest commercial services order in Boeing history.

Today's announcement extends this further to now include all its flight training requirements across its Boeing fleet. In July, the work conducted under this contract will reside in Boeing Global Services, a new dedicated services business focused on the needs of global defense, space and commercial customers.

Boeing and Norwegian also announced an order for two additional 737 MAX 8s at the 2017 Paris Air Show. Valued at $225 million at current list prices, Norwegian now has 110 unfilled orders for 737 MAX 8s.

"By ordering two additional 737 MAX aircraft, we are taking another step towards replacing our current fleet with even more fuel efficient and more environmentally friendly aircraft. This allows us to enhance our operation and reap financial benefits," said CEO of Norwegian, Bjørn Kjos. "Norwegian's strategy is to operate and own the newest state-of-the-art fleet of aircraft, giving passengers high-quality comfort and the shareholders as high a return as possible."

Norwegian is the European launch customer for the 737 MAX and currently operates a fleet of more than 100 Next-Generation 737-800s across its short and medium-haul network. The Oslo-headquartered carrier also operates a combined fleet of more than a dozen 787-8 and 787-9 Dreamliners and has a further 19 unfilled orders for 787-9s.

"We are very pleased to provide pilot training to Norwegian with the industry's best flight training as they take a very exciting step in expanding their Boeing fleet," said Stan Deal, president and CEO of Boeing Global Services. "Boeing is committed to giving our customers a competitive edge through services such as Global Fleet Care and our tailored training solutions, so that they can focus on keeping their pilots and airplanes in the air."

Norwegian is the sixth largest low-cost carrier in the world and flies over 500 routes to more than 150 destinations in Europe, North Africa, the Middle East, Thailand, the Caribbean and the US.

The 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.

The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Also, Boeing and Monarch Airlines announced that the UK carrier has selected Boeing's Global Fleet Care - formerly known as GoldCare - for its entire 737 MAX fleet.

Through Global Fleet Care's Integrated Fleet Solution, Boeing will deliver maintenance, engineering and parts required to run Monarch's MAX operations following the delivery of its first airplane in 2018.

Monarch has also selected Boeing as its flight training provider for its 737 MAX fleet and will be entering into an agreement with Boeing subsidiary AerData for services pertaining to aircraft records management.

The two companies have also reached an agreement to collaborate on securing additional third-party fleet servicing agreements. The partnership will seek to capitalize on Boeing's strength and reach within the industry and the expertise of Monarch Aircraft Engineering (MAEL), which has been providing maintenance, repair and overhaul services to some of the world's best-known airlines for 50 years.

Boeing and Monarch also announced an order for 15 additional 737 MAX 8s. Valued at $1.7 billion at current list prices, the order will grow Monarch's 737 MAX fleet from 30 to 45 airplanes.

The order was previously attributed to unidentified customers on the Boeing Orders & Deliveries website. Monarch has confirmed the 15 options and has agreed with a lessor for them to take 13 aircraft for lease back to Monarch.

"This is a momentous day for our business," said Monarch's CEO Andrew Swaffield. "The decision to exercise our option for an additional 15 737 Max 8 aircraft is a clear illustration of confidence in Monarch's future success. By the end of 2022, Monarch will have a completely new, modern fleet which will transform both the airline and the customer experience. The highly fuel-efficient fleet will also help Monarch reduce its environmental impact and add £100m-a-year to our bottom line from lower fuel and servicing costs. Furthermore, Boeing's willingness to partner with us to grow our maintenance and repair business is a tremendous endorsement of Monarch's expertise and experience in this area."

"Boeing is committed to providing our customers with services solutions that meet their unique needs," said Stan Deal, President and CEO of Boeing Global Services. "It is our goal to provide the best customer service experience in the aerospace industry through programs, products and services such as Boeing Global Fleet Care."

Tailored to the individual airline, Boeing Global Fleet Care provides a high-value, low-risk and efficient fleet maintenance operations that gives customers a competitive advantage in the marketplace. Boeing provides support for more than 60 customers and more than 2,200 airplanes through its Global Fleet Care program.

Founded in 1968 and headquartered at London Luton Airport, Monarch also operates from four other U.K. bases – London Gatwick, Manchester, Birmingham and Leeds-Bradford.  Monarch serves over 40 holiday destinations around the Mediterranean and the Canary Islands as well as European cities and ski resorts.

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