Aircraft lessor Griffin Global Asset Management is expanding its commercial aircraft portfolio with five new Boeing 737-8 jets. The purchase is Griffin’s first direct order with Boeing as it sees strategic opportunities to place the airplanes during the market recovery.
“As market conditions rebound, we are finding opportunities to serve our airline customers in innovative ways. An important component of this strategy is providing balanced capacity that meets returning passenger demand. The 737-8 is well-positioned to support this objective, and this order lays a strong foundation for more to come with Boeing and Griffin on future opportunities,” said Ryan McKenna, founder and CEO of Griffin.
Backed by Bain Capital Credit, Griffin provides commercial aircraft leasing and alternative asset management with offices in Dublin, Ireland, and Los Angeles, California. The team is staffed by experienced aviation professionals who work closely with airlines, aircraft manufacturers, and investors to provide custom fleet solutions and financing products to airlines around the world. Designed and built in Renton, Washington, the 737 MAX family can reduce fuel use and carbon emissions by at least 14% compared to the airplanes they replace. The 737-8 seats up to 189 passengers and can fly 3,550nm – about 600nm farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Every 737 MAX features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness, and larger pivoting overhead storage bins.
"As Griffin places its first direct order with Boeing, we welcome them to the 737 family and look forward to working with the team in the future," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing.
With the Griffin order, customers have placed 529 gross orders for the 737 MAX family in 2021.