With an average age of less than five years, Standard Chartered’s fleet comprises some of the most modern and fuel efficient aircraft in the market.
FARNBOROUGH, UNITED KINGDOM – Boeing and Standard Chartered Bank announced an order for 10 Next-Generation 737-800s. The order, valued at $960 million at current list prices, was attributed to an unidentified customer on the Boeing Orders & Deliveries website.
Speaking at the 2016 Farnborough International Airshow, Kieran Corr, Head of Aviation Finance at Standard Chartered, said: "We are excited about adding these new Boeing aircraft to our fleet. Our current portfolio consists of over 110 aircraft on operating lease to airline clients globally. We are committed to continuing to grow and diversify our client base over the next couple of years.
We are investing to leverage our global and leasing capabilities to demonstrate our commitment to key clients by providing aircraft on operating lease to meet increasing air traffic demand across some of the world's fastest growing regions. With deliveries through 2018, these new Boeing Next-Generation 737-800s will help us meet near-term client demand and expand our client base in our core markets, such as North East Asia."
With an average age of less than five years, Standard Chartered's fleet comprises some of the most modern and fuel efficient aircraft in the market. "Our key markets are Asia, Africa and the Middle East, with a focus on emerging markets," added Corr. "We want to help the aviation sector grow in those markets to drive regional trade and investment and we can only do that with an expanded diversified fleet."
"We're proud that Standard Chartered has chosen the Next-Generation 737 to grow its Aviation Finance business," said Boeing Commercial Airplanes President and CEO Ray Conner. "They've had great success in the past with 717s and 737 Classics, and we're pleased to welcome them back to Boeing."
The Boeing 737-800 is one of the best-selling versions of the highly successful Next-Generation 737 family, the most technologically advanced airplanes in the single-aisle market. The Next-Generation 737's market success has been confirmed by investors who consistently rank it as the most preferred single-aisle airplane due to its wide market base, superior performance efficiency and lowest operating costs in its class.
Boeing, Norwegian Agree to Record GoldCare Coverage
Also Boeing announced that Norwegian has committed to GoldCare coverage for its 737 MAX fleet and expanded coverage for the airline's entire 787 Dreamliner fleet.
The new services agreements represent the largest commercial services order in Boeing history.
Norwegian will launch Boeing's 737 MAX GoldCare offering when its first airplane is delivered in May 2017. Under the agreement, Boeing will provide coverage through 2034.
"Boeing has proven to us over the past four years the value of GoldCare for our operations," said Bjorn Kjos, CEO, Norwegian. "The reliability and operational effectiveness of our 787 fleet has never been better. We have great expectations and confidence in what we can accomplish by leveraging GoldCare across our 737 MAX fleet as well."
Norwegian has 108 737 MAXs on firm order, with commitments for 92 more airplanes. In addition, the airline will continue adding 787-9s to its existing 787 GoldCare agreement. Boeing has provided GoldCare Services for Norwegian's 787 fleet since 2012.
"This agreement marks a historic moment for Boeing and our services business – one we are proud to share with Norwegian," said Boeing Commercial Airplanes President and CEO Ray Conner. "We are honored that Norwegian is expressing its confidence in Boeing's GoldCare program. We look forward to continuing to build on our long-standing relationship and further prove the advantages and value that our services portfolio brings to their operation."
With the GoldCare service, Boeing delivers the operational economics committed to customers when they buy Boeing airplanes. Airlines trust Boeing's GoldCare services to deliver maintenance, engineering and parts required to run their airline's unique operations.
GoldCare is tailored to the individual airline, providing a high-value, low-risk and efficient fleet maintenance operations that gives customers a competitive advantage in the marketplace. Boeing has substantially grown its GoldCare subscriptions since 2013, providing support for 60 customers and more than 2,200 airplanes.
Boeing is a leader in providing 24/7 support and service to the global aviation industry. In addition to subscription-based maintenance services such as GoldCare, Boeing offers the industry's largest portfolio of services including aftermarket parts, freighter conversions and interior modifications, engineering support, crew training, route planning, digital crew scheduling, advanced data analytics and software to enhance airlines and leasing company operations.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
