Monarch Airlines today confirmed an order for 15 additional Boeing 737 MAX 8s worth $1.7 billion.
The order will expand Monarch’s 737 MAX fleet from 30 to 45 aircraft, with deliveries starting next year.
The additional new generation aircraft means that Monarch will have a completely new fleet by the end of 2022.
The aim is to transform the airline, the customer experience, its environmental impact and cost base, according to CEO Andrew Swaffield.
Monarch has confirmed the 15 options and agreed with an unnamed lessor to take 13 aircraft for lease back to the carrier.
The airline also forged a joint venture with Boeing with the aim of securing additional third-party fleet servicing agreements.
Swaffield said: “This is a momentous day for our business.
“The decision to exercise our option for an additional 15 737 Max 8 aircraft is a clear illustration of confidence in Monarch’s future success.
“By the end of 2022, Monarch will have a completely new, modern fleet which will transform both the airline and the customer experience.
“The highly fuel-efficient fleet will also help Monarch reduce its environmental impact and add £100 million-a-year to our bottom line from lower fuel and servicing costs.
“Furthermore, Boeing’s willingness to partner with us to grow our maintenance and repair business is a tremendous endorsement of Monarch’s expertise and experience in this area.”
The carrier has selected Boeing’s Global Fleet Care for its 737 MAX fleet.
Boeing will deliver maintenance, engineering and parts required to run Monarch’s MAX operations following the delivery of the first new aircraft in 2018.
Monarch has also selected Boeing as its flight training provider for the 737 MAX fleet and will be entering into an agreement with Boeing subsidiary AerData for services covering aircraft records management.
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