BOC Aviation Pte, the aircraft leasing arm of Bank of China, on Tuesday said it has signed an agreement to buy 22 Boeing Co 737 jets worth $2.27 billion at list prices.
The deal is equally split between 737-800 and 737 Max 8 aircraft, to be delivered over three years from 2018, BOC said. The 737 Max is the upgraded version of the 737, offering greater fuel efficiency and lower operating costs.
Boeing, in a separate statement, said it will add the planes to its order book when the deal is finalized.
The latest deal is in addition to BOC Aviation's August 2014 order for 82 Boeing jets worth $8.8 billion, comprising 50 737 Max aircraft, 30 737-800s and two 777-300ER widebody jets.
The Singapore-based lessor also ordered 43 Airbus Group SE A320 family of aircraft in July 2014, including seven A320neo planes.
BOC said it had commitments to acquire 203 aircraft as of September 30. Its portfolio comprises 253 owned and managed aircraft, operated by 59 airlines globally.
Airlines are increasingly reliant on lessors such as BOC as they seek to lower capital costs.
