Boeing Absorbs New Blow With Avolon Dumping $8 Billion Order
- Narrow-body 737 Max was in crisis after yearlong grounding
- Lessor’s move comes as virus halts air travel around the world
Photographer: David Ryder/Bloomberg
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Boeing Co.’s beleaguered 737 Max program suffered one of its biggest cancellations as plane-leasing firm Avolon Holdings Ltd. scrapped an $8 billion deal for 75 jets as the Covid-19 pandemic crushes travel demand.
Avolon, one of the top 20 customers for a model grounded more than a year after two fatal crashes, will also defer delivery of 25 Boeing and Airbus SE narrow-bodies as it cuts the order book by 40%, the lessor said in a statement Friday.