The market values and lease rates for the Boeing 737 MAX are rapidly recovering, and closing on its Airbus A320neo competitor, according to the latest Aircraft Market Intelligence Reports from IBA.
In its report on the Boeing 737 MAX 8, IBA’s expert ISTAT-accredited valuations team ascribe a value of US$47.9 million to a newly delivered aircraft, up 6% from a low point of US$45.2 million in the first half of 2021, and now just US$1.8 million behind the value of a new Airbus A320neo.
IBA is now also setting the current lease rate range at up to US$288,000 per month, up 12.5% from a low point of US$256,000 per month in the second half of 2020.
Data in the report from IBA’s InsightIQ intelligence platform shows that by the end of 2021, around 540 B737 MAX 8 aircraft had been delivered, with around 365 in active service, 154 stored and a further 17 parked. Since deliveries of the type resumed in December 2020, 180 B737 MAX 8 aircraft have since been delivered to customers.
Most jurisdictions have recertified the B737 MAX 8 for operation, although notably the fleet in China remains grounded, with return to service expected early in 2022. Around 220 B737 MAX 8 aircraft have been built and remain to be delivered to airline customers.
Almost 300 of the in-service fleet (comprising active, parked and stored aircraft) are leased to their operators and are owned by lessors and/or financial instruments, including ABS structures. At the end of 2021, the B737 MAX 8 holds a backlog of around 2,700 units, amongst 73 customers, the largest of which are Lion Air and Southwest Airlines, each with 186 aircraft still to be delivered.