BOC Aviation has purchased 11 Boeing 737 Max 8s due for delivery to Canadian start-up Lynx Airlines in 2023-24.
The aircraft will be leased to Lynx on long term leases, says the Singapore-based lessor.
BOC Aviation did not provide a value for the transaction.
“We are pleased to be partnering with BOC Aviation for the lease of 11 of our new aircraft,” says Lynx chief executive Merren McArthur.
“The financing of these aircraft is integral to our growth plans as we continue our mission to make air travel accessible to all Canadians. We are looking forward to welcoming Canadians on board these brand-new Boeing 737 Max airplanes.”
In January, Calgary-based Lynx started selling tickets for an April launch. So far, it has announced six destinations: Calgary, Kelowna, Toronto, Vancouver, Victoria, and Winnipeg.
The carrier aims to start service with a trio of 737 Max 8s, with plans to grow to 46 jets in seven years.
Robert Martin, chief executive of BOC Aviation, has this to say about the 11-aircraft 737 Max 8 deal: “We are delighted to welcome Lynx as a new customer and are pleased to support the airline’s plans to serve the Canadian travel market with the most fuel-efficient, technologically advanced aircraft. This transaction demonstrates the innovative financing solutions that we provide for our global customer base and reflects our disciplined investment strategy focused on a portfolio of latest technology aircraft.”