Boeing 737-800 SUMMARY Over 4,500 in service, over 460 on order. Considered the most liquid narrowbody today. A total of more than 180 operators very popular among a good mix of mainline, charter and low-cost carriers; good regional distribution, and a favourite with the leasing community. Storage and availability low; around 1% of total fleet in storage, availability less than 15. Younger aircraft finding new lessees well ahead of lease return dates. Around 53% on operating lease very active leasing market. Boeing 737 production increasing to 57/month by 2018; few 737NG slots left. Split Scimitar winglet offers further-improved fuel burn. Freighter conversion programmes launched by AEI, Bedek, Boeing, AEI and Pemco first converting now, with over 100 orders. Values stable, Lease Rates last increased in Q2 2017. Orders being balanced by cancellations and swaps to Max; few slots left before Max. Re-engined 737 Max 8 now in service, to replace -800 on the line after several years, but large -800 fleet will not be replaced until well into the 2020s. Used to have a nine-seat advantage over Airbus A320 in single-class layout, but A320ceo now matches capacity of the 737-800, although -800 has better pitch and more seats in two-class layout. Lower-weight aircraft without winglets are less desirable than (high gross weight) models with CFM56-7B26/27. More replacement choices: A320neo and Max 8 in service, Irkut MC-21, Comac C919 for 2020s. 737 Max 7 redesign has just 17 fewer seats. Boeing 737-800 VALUE TRENDS Source: Flight Ascend Values Analyzer Generic spec, Half-Life or better MARKET VALUES Build Year Oct-15 Oct-16 Oct-17 1997 $14.40m $11.95m $10.40m 2005 $22.70m $20.50m $18.55m 2016 - $41.25m $38.20m BASE VALUES Build Year Oct-15 Oct-16 Oct-17 1997 $15.07m $13.89m $12.32m 2005 $21.12m $19.31m $17.88m 2016 - $41.84m $38.32m MARKET LEASE RATES (5-YEAR) Build Year Oct-15 Oct-16 Oct-17 1997 $0.175m $0.150m $0.150m 2005 $0.245m $0.205m $0.215m 2016 - $0.340m $0.325m CURRENT MARKET VALUE / BASE VALUE RATIOS Build Year Oct-15 Oct-16 Oct-17 1997 96% 86% 84% 2005 107% 106% 104% 2016-99% 100% MARKET LEASE RATE / CURRENT MARKET VALUE Build Year Oct-15 Oct-16 Oct-17 1997 1.22% 1.26% 1.44% 2005 1.08% 1.00% 1.16% 2016-0.82% 0.85% Generic Specification Engines MTOW CFM56-7B24 155,500lb Values and Lease Rates may be different for other specifications. Please contact Flight Ascend for valuation of these and any specific aircraft. 1
BOEING 737-800 VALUE AND LEASE RATE TRENDS Source: Flight Ascend Values Analyzer 737-800 Market Values were last reduced by 5-6% in Q1 2017 to account for annual depreciation. The type had a challenging year in 2016 and after several market corrections, we deemed that it was not necessary to apply the full annual depreciation amount for the time being. Values still range from $10.4 million for a 1997-build to $38.2 million for a 2016- build aircraft. Market Values for new 2017 aircraft are at $40.65 million. Higher specifications will lead to higher values. 737-800 Market Lease Rates last increased at the start of Q2 2017 for all but the oldest year of build, by 2-9%, with the higher percentages for older aircraft. Lease Rates still range between $150,000/month for a 1997-build aircraft, and $325,000/month for a 2016-build. New 2017-builds command Lease Rates of $340,000/month. Higher specifications may lead to higher Lease Rates. During the July 2017 Base Value review, Current Base Values were reduced slightly for 1997-2001 vintages, while those for later builds were stable. Our Future Value curves were steepened slightly based on macroeconomic inputs. Boeing 737-800 Value and Lease Rate Development $50m $40m $30m $20m $10m $0.50m $0.40m $0.30m $0.20m $0.10m $m $0.00m Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Current 1997737-800 CMV 2005737-800 CMV 2016737-800 CMV 1997737-800 MLR 2005737-800 MLR 2016737-800 MLR Boeing 737-800 MV/BV Ratio Development 110% 105% 100% 95% 90% 85% 80% 75% 70% Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Current 1997 737-800 CMV/CBV 2005 737-800 CMV/CBV 2016 737-800 CMV/CBV 2
BOEING 737-800 MARKET OUTLOOK Short-Term Market Outlook Boeing 737-800 Market Values were last reduced by 5-6% in Q1 2017 to account for annual depreciation. This followed a decrease of around 2-8% in early Q4 2016. Following a thorough review of a large number of transaction datapoints, Lease Rates were last increased in early Q2 2017 by 2-9%, with the highest rises for older vintages, as the market for the type picks up the slack it experienced in Q3 and Q4 of 2016. 737-800 Current Base Values were mostly unchanged in the July 2017 review, except for the oldest 1997-2001 vintages, which were reduced slightly by 1% to 5%. Market Values for these older vintages have dropped significantly below Base in an otherwise strong market, driving a small permanent impairment to their Base Values. The drop in forecast value for 2027 is 1% for most vintages and up to 6% for a 1997-vintage. Programme now is 20 years old but the type remains the most liquid single-aisle on the market, with 180+ operators. Over 5,000 ordered, with a backlog of 460 aircraft. Boeing to increase overall 737 family production rate from 47/month to 52/month in 2018 and 57/month in 2019 to ensure a smooth transition to the 737 Max, which entered service in Q2 2017. Net orders slightly negative in Q3 2017, although it is estimated that Boeing only has very few remaining open slots on the 737NG before the transition to the 737 Max. Very active leasing market. High levels of leasing activity and over 50% of the fleet on operating lease. This shows that lessors have confidence in the future liquidity of the type. Flybondi to launch low-cost carrier operation in Argentina with 10 737-800 aircraft. Storage levels down from 40 to 30 this quarter; typically due to seasonal trends in the peak Summer period. Stored fleet ratio is very low at around 1%. This remains one of the best ratios in the industry and shows continuing strong demand for the 737-800. Aircraft continue to be placed quickly. Low availability in the market with fewer than 15 currently publicly available for lease or sale; most being available in 2018 to Q1 2019. The aircraft type has a major presence with scheduled or charter operators and LCCs, and a very standardised cabin / seating configuration, all of which allow aircraft to be placed quickly once they become available. The APB Split Scimitar winglet (designed for the Max) can be implemented on the current -800, certified in Q1 2014 to further reduce fuel burn by an extra 1% (over existing winglets). Over 500 aircraft now have the Split Scimitar winglet. Medium and Long-Term Market Outlook The additional maximum capacity of nine seats has historically helped the 737-800 remain very competitive against its rival A320ceo, although the A320 is now also certified up to 189 seats. The standard 737 Max 8 will have 189 and the Max 200 version will increase seats to 200, through use of an extra emergency exit aft of the wing. New 737 Max 7 design boosts seating to 172 and has longer range than the Max 8, but aimed more at hot and high operations. Order backlog demonstrates that this remains the most popular 737NG variant, and that airlines and lessors have confidence in the type well into the end of the decade, despite the introduction of the Max. The type is expected to remain the most liquid single-aisle well into the future. This is due to the size of the current fleet, backlog, and its success with both lessors and a broad range of operators in terms of operator and geographical location. Mid-life aircraft could face liquidity and values issues in the future as LCCs look to remove aircraft from their fleet at this age in large numbers. This could lead to oversupply of 10- to 15-year-old aircraft from the current generation in the coming years if operator demand fails to keep pace. 3
Continued product improvements, such as longer maintenance intervals, new space-saving lavatories in 2014, Scimitar winglets etc., support long-term demand. Boeing states that some 90% of the order backlog has the new Sky interior with pivot bins, each of which can hold four standard-sized carry-on bags. New Space Bins, capable of accommodating six standard-size carry-on bags, became an option on the -800 since late 2015. A320neo deliveries began in Q1 2016, offering improved fuel burn. Boeing responding with the re-engined 737 Max 8 due in Q2 2017 but is unlikely to impact 737-800 values immediately as there is a large -800 fleet, which will not start to be replaced in any significant numbers until well into the 2020s. Other replacements are emerging, albeit on a small scale C919 from China and MC-21 from Russia, likely from 2020 at earliest most likely to be concentrated in their home markets. 737-800 cargo conversion programmes in development at AEI, Boeing, IAI Bedek and Pemco to follow. It is a proven airframe with newer technology, and aircraft are now aged 15-20 years, making freighter conversions a logical next step and breathing additional life into older -800s, for both operators and lessors. GECAS announced in Q2 2015 that it is the launch customer (for 10) for the AEI 737-800SF conversion programme full freighter capable of 11.5 pallets (23.5-tonne) of freight on the main deck (one pallet more than a -400SF), with a Combi capable of six pallets up to the overwing exit, plus 90 seats. Expected to get supplemental type certification in 2017 with Swedish operator West Atlantic to become the initial operator. ACG announced order for 15 aircraft in October 2015. Boeing launched its own 737-800BCF programme in Q1 2016, conversions will take place at selected facilities near customer demand, including Boeing Shanghai. GECAS (five), Hangzhou-based YTO Airlines and Beijing-based China Postal Airlines (ten each) are launch customers. First deliveries will take place in Q4 2017. IAI Bedek is also developing an -800SF conversion, after its first -700SFs. Spectre Air Capital to take up to 15. Pemco will follow its -700SF STC with an -800SF. No all-new replacement design from Airbus or Boeing likely until well into the next decade at earliest. BOEING 737-800 MARKET ACTIVITY Source: Flight Fleets Analyzer A summary of market activity in Q3 2017 shows: Variant Net Orders Deliveries Sales Leases Lease Returns Cargo Conversions Retirements 800 0 0 4 3 1 N/A 0 800 Winglets -4 106 54 17 9 N/A 1 800 Winglets Scimitar 0 0 0 2 0 N/A 0 Total -4 106 58 22 10 N/A 1 Orders and Type Swaps We observed the following orders / type swaps for the Boeing 737-800 during Q3 2017: Customer Order Type Variant Date Qty. Lion Air Swapped from -900ER 800 Winglets Sep-2017 3 Cancellations We observed the following order cancellations for the Boeing 737-800 during Q3 2017: Operator Variant Transaction Qty. SunExpress 800 Winglets Cancelled order 7 4
Deferrals No deferrals were recorded for the Boeing 737-800 during Q3 2017. Deliveries We observed the following deliveries for the Boeing 737-800 during Q3 2017: Operator Variant Qty. Aeroflot Russian Airlines 800 Winglets 5 Aerolineas Argentinas 800 Winglets 3 Aeromexico 800 Winglets 1 Air China 800 Winglets 1 Air Europa 800 Winglets 2 American Airlines 800 Winglets 5 China Eastern Airlines 800 Winglets 6 China Southern Airlines 800 Winglets 9 China United Airlines 800 Winglets 3 Donghai Airlines 800 Winglets 1 Egyptair 800 Winglets 2 Fuzhou Airlines 800 Winglets 1 Hainan Airlines 800 Winglets 9 Hebei Airlines 800 Winglets 2 Iraqi Airways 800 Winglets 2 Japan TransOcean Air 800 Winglets 1 Nok Air 800 Winglets 1 Norwegian Air Int l 800 Winglets 1 Rossiya Airlines 800 Winglets 1 Ruili Airlines 800 Winglets 1 Ryanair 800 Winglets 6 Saudi ARAMCO Aviation 800 Winglets 2 Shandong Airlines 800 Winglets 5 Shanghai Airlines 800 Winglets 5 Shenzhen Airlines 800 Winglets 5 Southwest Airlines 800 Winglets 6 Suparna Airlines 800 Winglets 2 United Airlines 800 Winglets 4 Urumqi Airlines 800 Winglets 1 Virgin Australia 800 Winglets 3 Xiamen Airlines 800 Winglets 10 5
Sales During Q3 2017, we registered a total of 58 sales, including 27 sale and leasebacks on delivery, 22 purchases with leases attached, five sale and leasebacks and four straight sales: Variant Vendor Buyer New Operator Transaction Qty. 800 AerCap SASOF III (A4) Sun Country Airlines Existing Lease 1 800 Air China WWTAI Airopco BPA Ireland Fortress Investment Group Purchased 1 800 Air China WWTAI Airopco II DAC Fortress Investment Group Purchased 2 800 Winglets Aerolineas Argentinas Aircastle Aerolineas Argentinas SLB delivery 1 800 Winglets Air Europa Aviation Portfolio Fund 1 Air Europa SLB delivery 1 800 Winglets Air Europa GOAL Air Europa SLB delivery 1 800 Winglets ALC B378 40910 Tempelhof Aircraft Leasing (Ireland) Air Austral Existing Lease 1 800 Winglets American Airlines Hudson Aviation Leasing American Airlines SLB delivery 1 800 Winglets American Airlines Mystic Aviation Leasing American Airlines SLB delivery 1 800 Winglets American Airlines ORIX Aviation American Airlines SLB delivery 1 800 Winglets American Airlines ORIX Aviation Systems American Airlines SLB delivery 1 800 Winglets American Airlines Rowley Aviation Leasing American Airlines SLB delivery 1 800 Winglets Arctic Aviation Asset SMBC Aviation Capital Norwegian Air Int l SLB delivery 1 800 Winglets Aviakapital-Servis VTB-Leasing Aeroflot Russian Airlines SLB delivery 3 800 Winglets Aviakapital-Servis VTB-Leasing Rossiya Airlines SLB delivery 1 800 Winglets Avolon ORIX Aviation Ryanair Existing Lease 1 800 Winglets Avolon ORIX Aviation Xiamen Airlines Existing Lease 1 800 Winglets Celestial Aviation Trading 13 ORIX Aviation Xiamen Airlines Existing Lease 1 800 Winglets Celestial Aviation Trading 22 ORIX Aviation Garuda Indonesia Existing Lease 1 800 Winglets Celestial Aviation Trading 38 ORIX Aviation Garuda Indonesia Existing Lease 1 800 Winglets Celestial Aviation Trading 73 Accipiter Investments Aircraft 1 Transavia France Existing Lease 2 800 Winglets China Eastern Airlines Unannounced China United Airlines SLB delivery 1 800 Winglets China Eastern Airlines Unannounced Shanghai Airlines SLB delivery 3 800 Winglets DY1 Leasing FLIP No 156 Norwegian Existing Lease 1 800 Winglets DY1 Leasing FLIP No 159 Norwegian Existing Lease 1 800 Winglets DY1 Leasing FPG Trust Norwegian Existing Lease 3 800 Winglets DY2 Leasing FPG Trust Norwegian Existing Lease 4 800 Winglets ECAF 2015-1 ABS Portfolio Unannounced Taimyr Air - NordStar Existing Lease 1 800 Winglets Egyptair DAE Capital Egyptair SLB delivery 2 800 Winglets Fiji Airways Willis Lease Finance Fiji Airways SLB 2 800 Winglets General Electric Capital Corp ORIX Aviation Aerolineas Argentinas Existing Lease 1 800 Winglets General Electric Capital Corp ORIX Aviation Hainan Airlines Existing Lease 2 800 Winglets Hebei Airlines Jianxin Jin No.52 Leasing (Tianjin) Hebei Airlines SLB delivery 1 800 Winglets Pegasus ALC B378 40872 Air Lease Purchased 1 800 Winglets Transavia France Argentiere Aviation DAC Transavia France SLB 3 800 Winglets Virgin Australia Short Haul 2017 No1 Virgin Australia SLB delivery 1 6
Variant Vendor Buyer New Operator Transaction Qty. 800 Winglets Virgin Australia Short Haul 2017 No2 Virgin Australia SLB delivery 2 800 Winglets Xiamen Airlines ICBC Leasing Co Xiamen Airlines SLB delivery 4 *SLB=Sale & lease-back *SLB Delivery=Sale & lease-back on delivery Leases During Q3 2017, we registered a total of 22 Boeing 737-800 dry-leases, including 18 straight leases and four lease agreements for aircraft on orders (sub-leases not included): Variant Lessee Lessor Transaction Qty. 800 Azur Air Fortress Investment Group Leased in 2 800 Blue Panorama Airlines Fortress Investment Group Leased in 1 800 Winglets Andes Lineas Aereas Macquarie AirFinance Leased in 1 800 Winglets Comair (South Africa) Avolon Aerospace Leasing Leased in 1 800 Winglets flyegypt ORIX Aviation Leased in 1 800 Winglets Jeju Air FPG Amentum Leased in 1 800 Winglets Jet Airways DAE Capital Leased in 1 800 Winglets LOT Polish Airlines AerCap Leased in 1 800 Winglets Nordwind Airlines Air Lease Leased in 1 800 Winglets Ruili Airlines CDB Aviation Lease Finance Aircraft on order 3 800 Winglets Solaseed Air SMBC Aviation Capital Aircraft on order 1 800 Winglets Sriwijaya Air ICBC Leasing Co Leased in 2 800 Winglets TUI fly FPG Amentum Leased in 1 800 Winglets T'way Air AerCap Leased in 1 800 Winglets T'way Air Macquarie AirFinance Leased in 1 800 Winglets US-Bangla Airlines Fortress Investment Group Leased in 1 800 Winglets Scimitar NewGen Airways AerCap Leased in 2 Lease Returns We observed the following lease returns for the Boeing 737-800 during Q3 2017: Variant Lessee Manager Transaction Qty. 800 Air China CDB Aviation Lease Finance Returned 1 800 Winglets Air China ICBC Leasing Co Returned 1 800 Winglets Air Europa FPG Amentum Returned 1 800 Winglets Air Europa ORIX Aviation Returned 1 800 Winglets flydubai AWAS Returned 1 800 Winglets Korean Air Macquarie AirFinance Returned 1 800 Winglets Norwegian Air Int l FPG Amentum Returned 1 800 Winglets Rossiya Airlines Avolon Aerospace Leasing Returned 1 800 Winglets Shandong Airlines Fortress Investment Group Returned 1 800 Winglets Xiamen Airlines ICBC Leasing Co Returned 1 7
Known Scheduled Lease Expiries We are aware of the following lease expiries for the Boeing 737-800 in the coming six months (NB this data is based on original lease terms and some leases may already have been extended): 800 Air China CDB Aviation Lease Finance 1 800 Jet2 Aviation Capital Group 1 800 Jet2 BBAM 1 800 Shandong Airlines Fortress Investment Group 1 800 Titan Airways Fortress Investment Group 1 800 Winglets Air Europa Castlelake 2 800 Winglets Air Transat Avolon Aerospace Leasing 2 800 Winglets AirExplore Apollo Aviation Group 1 800 Winglets Anadolu Jet Deucalion Aviation Funds 1 800 Winglets Arkia Macquarie AirFinance 1 800 Winglets China United Airlines AerCap 1 800 Winglets Comair (South Africa) GECAS 1 800 Winglets Enter Air GECAS 1 800 Winglets flydubai BBAM 3 800 Winglets flydubai DAE Capital 1 800 Winglets flyegypt Aero Capital Solutions Inc 1 800 Winglets GOL Avolon Aerospace Leasing 2 800 Winglets Hainan Airlines AerCap 1 800 Winglets Izair SMBC Aviation Capital 1 800 Winglets Jet2 AerCap 1 800 Winglets Jet2 Aviation Capital Group 1 800 Winglets Kulula Volito Aviation Services AB 1 800 Winglets LOT Polish Airlines Air Lease 1 800 Winglets Mango GECAS 1 800 Winglets Med View Airlines Deucalion Aviation Funds 1 800 Winglets Norwegian Avolon Aerospace Leasing 1 800 Winglets Norwegian Air Int l DAE Capital 1 800 Winglets Okay Airways AerCap 1 800 Winglets Palau Pacific Airways BBAM 1 800 Winglets Pegasus SMBC Aviation Capital 1 800 Winglets Shanghai Airlines AerCap 1 800 Winglets Skymark Airlines SKY Leasing 1 800 Winglets Smartwings Macquarie AirFinance 1 800 Winglets South African Airways Macquarie AirFinance 3 800 Winglets SunExpress Aviation Capital Group 2 800 Winglets SunExpress BBAM 1 800 Winglets Titan Airways BBAM 1 800 Winglets Transavia Airlines AerCap 1 800 Winglets Transavia Airlines DAE Capital 1 800 Winglets Transavia Airlines SMBC Aviation Capital 2 800 Winglets Travel Service Airlines Apollo Aviation Group 1 800 Winglets Travel Service Airlines BBAM 3 800 Winglets Travel Service Poland Apollo Aviation Group 1 800 Winglets TUI fly Avolon Aerospace Leasing 2 800 Winglets TUIfly Unannounced 1 800 Winglets Turkish Airlines ALM - Aircraft Leasing & Mgmt. 2 800 Winglets Turkish Airlines BBAM 1 8 Variant Lessee Manager Qty.
Variant Lessee Manager Qty. 800 Winglets Scimitar Sunwing Airlines Aviation Capital Group 1 800 Winglets Scimitar Sunwing Airlines Avolon Aerospace Leasing 1 800 Winglets Scimitar Travel Service Poland BBAM 1 800 Winglets Scimitar TUI Airlines Nederland Aviation Capital Group 1 800 Winglets Scimitar TUI Airlines Nederland Avolon Aerospace Leasing 2 800 Winglets Scimitar TUI Airlines UK Air Lease 1 800 Winglets Scimitar TUI Airlines UK Avolon Aerospace Leasing 1 800 Winglets Scimitar TUI Airlines UK Macquarie AirFinance 2 800 Winglets Scimitar TUIfly Unannounced 1 800 Winglets Scimitar WestJet Wings Capital Partners Investments 1 Retirements We observed the following permanent retirement for the Boeing 737-800 during Q3 2017: Variant Operator Manager Vintage Qty. 800 Winglets ANA Trading Corp USA ANA Trading Corp USA 1998 1 Future Activity Suparna Airlines is planning to purchase two -800s from Hainan Airlines, both part of HNA Group. Jet Airways is planning to lease two from SMBC and one each from DAE and CDB. Flybondi will lease one from Deucalion, Swift Air two from Travel Service and Ukraine International one from DAE. The first two 737-800SFs will complete freighter conversion in Q4 2017 (with GECAS from AEI and Boeing). At least seven aircraft are scheduled to return to service in Q4 2017. BOEING 737-800 STORAGE Source: Flight Fleets Analyzer The number of stored aircraft is around 1% of the total fleet. No Aircraft Boeing 737-800 Stored Fleet Development 60 1.4% 50 1.2% 40 1.0% 30 0.8% 0.6% 20 0.4% 10 0.2% 0 0.0% 2001 2003 2005 2007 2009 2011 2013 2015 Current Stored Stored Fleet Share 9
Currently there are 30 737-800 aircraft in storage, including 20 with winglets and 10 without. Of these, seven are scheduled to return to service, three are to be placed with new lessees and two will undergo freighter conversion: Variant Operator Manager Event Qty. 800 Air China Air China - 3 800 Air China CDB Aviation Lease Finance - 1 800 CDB Aviation Lease Finance CDB Aviation Lease Finance To be leased in 1 800 Shandong Airlines Fortress Investment Group - 1 800 VEB-Leasing VEB-Leasing - 4 800 Winglets 9 Air Harvest Int l Fin. Lease To return/enter service 1 800 Winglets Air Europa Castlelake - 1 800 Winglets Air India Express Air India Express To return/enter service 1 800 Winglets Air Lease Air Lease - 3 800 Winglets Arik Air Arik Air To return/enter service 1 800 Winglets Buraq Air Buraq Air To return/enter service 1 800 Winglets flydubai DAE Capital To be leased in 1 800 Winglets GECAS GECAS - 1 800 Winglets GECAS GECAS Sched. freighter conversion 2 800 Winglets Jetran Int l Jetran Int l - 1 800 Winglets Kenya Airways GECAS To return/enter service 1 800 Winglets Malaysia Airlines Avolon Aerospace Leasing To return/enter service 1 800 Winglets Norwegian Avolon Aerospace Leasing - 1 800 Winglets Norwegian Air Int l DAE Capital To be leased in 1 800 Winglets Primera Air Nordic Genesis Aircraft Services To return/enter service 1 800 Winglets VEB-Leasing VEB-Leasing - 2 BOEING 737-800 AVAILABILITY Source: Airfax We are aware of at least 14 737-800 aircraft being publicly marketed as available for sale or lease, including: Variant YOB Listed by Availability From Note 800 2002 SMBC Lease Aug 2018-800 2006 Orix Aviation Lease One Q1 2018, two Q3 2018 3 Aircraft 800 2012 Orix Aviation Lease Q1 2019 800 2013 Orix Aviation Sale Q1 2018 4 Aircraft 800 2013 FPG Amentum Lease Q1 2018 2 Aircraft 800 2002 World Star Aviation Lease May 2018 Fresh C-check 800 2002 AerSale Sale/lease Immediately - 800 2005 Aviator Capital Sale/lease April 2018-10
BOEING 737-800 FLEET OVERVIEW Source: Flight Fleets Analyzer There are currently 4,530 737-800 aircraft in passenger service with 184 airline and non-airline operators, 466 aircraft on order with 47 customers, and 30 in storage. The in-service fleet consists of 3,850 winglet-equipped aircraft, 568 Scimitar winglet-equipped aircraft and 112 without winglets. All of the on-order fleet have winglets. Of the stored aircraft, 20 have winglets and 10 are without. 5,000 Boeing 737-800 Fleet Development 4,000 3,000 2,000 1,000 0 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 In Service On Order Regional Distribution Currently there are 4,773 Boeing 737-800 aircraft in service / on order with airline operators, including 1,967 aircraft with 71 carriers in Asia-Pacific, 1,400 aircraft with 60 carriers in Europe, 873 aircraft with 12 carriers in North America, 243 aircraft with nine carriers in Latin America and the Caribbean, 171 aircraft with 24 carriers in Africa and 119 aircraft with six carriers in the Middle East. Boeing 737-800 Fleet Distribution (In Service / On Order) N. America 18% Africa Lat. Am & 4% Carib 5% Middle East 3% Asia-Pacific 41% Europe 29% 11
Top Carrier and Operating Lessor Distribution The main Boeing 737-800 carriers and operating lessors are presented in the following tables: Top 5 Boeing 737-800 Airline Operators Qty. (In Service/On Order) Ryanair 462 American Airlines 304 Southwest Airlines 197 China Southern Airlines 154 United Airlines 141 TOTAL 1,258 Top 5 Boeing 737-800 Operating Lessors Qty. (In Service/On Order) AerCap 252 GECAS 234 SMBC Aviation Capital 192 BBAM 134 Avolon Aerospace Leasing 133 TOTAL 945 12