SYDNEY - Virgin Australia is expanding its fleet with the addition of six Boeing (NYSE:BA) 737-8 MAX planes, bringing its total order to 39 units. The airline received its third MAX aircraft today from Seattle and expects the remainder to join the fleet by next year. This development is a key part of Virgin's strategy to become more eco-friendly, aiming to cut flight emissions by at least 15% and reach net-zero emissions by 2050.
The first of these fuel-efficient planes, named Monkey Mia, began operating earlier this year and now serves key destinations such as Fiji and Bali. Virgin Australia's commitment to sustainability is further underscored by their larger order for Boeing's next-gen MAX 10 aircraft. Following the Federal Aviation Administration's (FAA) approval on Thursday for certification tests, Virgin plans to integrate 25 units of the MAX 10 into its fleet, with deliveries starting in five years.
Furthermore, Virgin Australia is investing $110 million in cabin refurbishments that are set to commence in Melbourne this December. This initiative is part of a comprehensive pre-IPO transformation strategy scheduled for May.
In related news, Air Lease Corporation (NYSE:AL) delivered the first Boeing 737-8 to Malaysia Airlines today as part of a deal for a total of 25 aircraft. This delivery highlights AL's dedication to assisting in the modernization of Malaysia's national carrier. The new plane is powered by CFM LEAP 1B-27 engines and builds on a previous agreement where ALC leased six A350-900s to Malaysia Airlines under a long-term contract.
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