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4/3, 2:16 PM (Source: TeleTrader)
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Avalon cancels orders for 75 Boeing 737 MAX airplanes

Aircraft leasing company Avolon, announced on Friday it canceled orders for 75 Boeing Co.'s 737 MAX aircraft due to the ongoing coronavirus crisis.

"Our strategy has always been to operate our business with strong liquidity, low leverage, broad portfolio diversification and minimal near-term debt maturities," Avolon chief executive Domhnal Slattery said, adding the company "remains committed to the 737 MAX programme."

In addition to the cancelation of the order which was supposed to be fulfilled between 2020-2023, the company postponed an additional 16 737 MAX aircraft to 2024.

Breaking the News / MD