TUI sells five 737 MAX aircraft to leasing company


TUI is to sell five of the 737 MAX aircraft ordered by the group to leasing company BOC Aviation. The planes are then leased back by TUI from BOC Aviation.

BOC is to by the 737s for 192 million euros, roughly 38.5 million euros per plane. The catalog value of a 737 MAX 8 is roughly 100 million euros. However, airlines that order many aircraft, such as TUI, often receive high discounts, so that the purchase price sometimes amounts to less than half of the catalog value.

TUI is not the only company that sells it’s aircraft to a leasing company. Southwest and United previously made similar deals with BOC Aviation. The lease company has canceled its own 737 MAX order of 30 aircraft.

The lease company says it is confident in the return and success of the Boeing 737 MAX. The cancellation of the aircraft ordered by BOC itself is the result of the corona crisis, not a result of a lack of confidence in the aircraft, the leasing company said.

It is not yet known for which branch of TUI the aircraft, that would be delivered in 2021, are intended. The airplanes will most probably join either the British or the German branch of TUI.

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