New Boeing jets deal: Malaysia Airlines’ parent company, Malaysia Aviation Group (MAG), is in talks with Boeing about potentially acquiring new jets that may become available if Chinese airlines cancel or delay their deliveries. According to Izham Ismail, MAG’s managing director, the airline is exploring the possibility of securing earlier-than-expected deliveries of Boeing 737 MAX jets.
Boeing 737 MAX Jets
Boeing has been experiencing a slowdown in production due to enhanced regulatory scrutiny and a labor strike. Additionally, the ongoing trade tensions between the US and China have resulted in uncertainty surrounding the delivery of Boeing jets to Chinese airlines. Some Boeing 737 MAX jets have been returned to the US from China, where they were placed ahead of delivery to Chinese customers.
MAG’s Fleet Expansion Plans
MAG has been steadily growing and renewing its fleet, with plans to operate a narrow-body fleet of 55 new-generation 737 MAX aircraft by 2030. Last month, the airline announced plans to buy 18 737 MAX 8 and 12 737 MAX 10 aircraft, with an option to purchase a further 30 jets. MAG also has a deal to lease 25 737 MAX jets from Air Lease Corp between 2023 and 2026.
Still on New Boeing jets dealÂ
Potential Arrangement
Ismail said that any potential arrangement to take on additional planes from vacated delivery slots would not be part of the Air Lease Corp deal. Instead, MAG would need to raise additional funds through the capital market to support the acquisition of more jets. The airline is eager to secure earlier delivery slots, given the high demand for new planes globally and the extended delivery times due to post-pandemic supply chain bottlenecks.
Industry Context
The aviation industry is facing challenges in meeting demand for new aircraft due to supply chain disruptions and production slowdowns. Airlines are looking for ways to secure new planes, and MAG sees the potential cancellation or delay of Boeing deliveries to Chinese airlines as an opportunity to acquire new jets earlier than expected.
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