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Wed, 8 December 2021

777 Partners Orders 30 More Boeing 737 MAX Aircraft

(08 Dec 2021)  The Miami-based investment firm, 777 Partners, is set to nearly double its Boeing 737 MAX order book with the purchase of 30 additional jets.

The new order expands 777 Partners' commercial aircraft portfolio to a total of 68 737 MAXs, and is the company's fourth order this year for the single-aisle jets.

Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

Boeing 737 MAX 7. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.
Boeing 737 MAX 7. Picture by Steven Howard of TravelNewsAsia.com

"We're delighted to be able to announce the almost doubling in size of our order with Boeing," said Josh Wander, managing partner of 777 Partners. "We have long been confident in the economics of the 737 MAX family but we are especially excited about the 737-8-200 variant which represents the bulk of our additional orders. We're confident that this aircraft will be the hallmark ULCC/LCC asset, particularly in the sub-200 seat market. As travel demand returns, 777 has accelerated our quest for efficiencies in both operating cost and carbon footprint at our operating carriers. . In these areas the 737-8 is compelling and the 737-8-200 is simply unrivalled."

Boeing says that the 737 MAX family reduces fuel use and carbon emissions by "at least 14% compared to the airplanes it replaces".

Every 737 MAX features a Boeing Sky Interior, highlighted by sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

"We greatly appreciate 777 Partners for their trust in our products, including repeat orders for the 737 MAX and expanding their fleet to include the high-capacity 737-8-200 model," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. "777 Partners is enabling growth for its affiliated low-cost carriers by leveraging the 737 family's flexibility, reliability and efficiency to serve passengers for years to come."

Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

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