BOC Aviation Ltd said on Thursday it would buy 10 new aircraft from Boeing Co for an aggregate list price of $1.25 billion, as it looks to strengthen its future revenue stream by investing in modern, efficient and in-demand aircraft.

The Hong Kong-listed aircraft lessor said it would buy 10 new Boeing 737 MAX 10 aircraft for delivery in 2021.

BOC Aviation, which operates a fleet of 493 aircraft, said the actual purchase price was lower than the list price, and the deal would be funded through cash on hand, loans and borrowings.

The aircraft lessor had said in June that it would buy four 787-9 Boeing aircraft for an aggregate list price of $1.08 billion.

Source:reuters.com