PARIS–Irish aircraft lessor Avolon has finalized an order for 40 more Boeing 737 MAX 8s, firming a nonbinding commitment that was first announced in April 2023.

Speaking at the Paris Air Show June 20, Avolon CEO Andy Cronin said the aircraft will be delivered toward the end of the decade.

“This order extends our delivery pipeline out to 2030,” Cronin said.

With this latest order, which was previously listed as unidentified on Boeing’s orders and deliveries website, Avolon has over 250 owned, managed or committed Boeing aircraft.

“These aircraft are not yet placed; they will be placed where there is demand growth,” Cronin said, adding there is strong potential in high-growth economies.

“I think we’re in for a period of structural undersupply of aircraft,” Avolon CCO Paul Geaney said. “We are entering a period of unprecedented demand with limited supply.”

The deal is valued at just over $4 billion at list prices.