Boeing Company (NYSE:BA) announced on Friday that Investment 777 Partners, a Miami-based private investment firm, has agreed to purchase 24 737 MAX 8 airplanes with the option to purchase 60 additional planes at a later date.
What Happened: A strategic investor in the aviation sector, Investment 777 Partners plans to lease the 24 planes to its partners, including Canadian-based Flair airlines, a low-cost passenger carrier.
“The 737-8 aircraft are a fantastic addition to our aviation portfolio and will enable our partners to leverage the jets’ superior economic performance to deliver low fares for their passengers while reducing their carbon footprint,” said Investment 777 Partners founder and Managing Partner Joshua Wander.