Boeing [NYSE: BA] and private investment firm 777 Partners announced today an agreement to add 24 737-8s to the firm’s diverse aviation portfolio, with purchase rights for an additional 60 airplanes. The Miami-based company will place the single-aisle airplanes with its growing portfolio of low-cost carrier investments around the world.
In addition to aircraft leasing, 777 Partners strategically invests in a host of aviation businesses, from operating carriers to technology-driven solutions. The firm’s travel sector strategy is largely focused on innovative solutions for interlining, passenger connectivity, and creating new commerce channels for its airline investments and customers.
The 737-8 can fly 3,550 nautical miles, about 600 miles farther than its predecessor. This additional capability allows airlines to offer new and more direct routes for passengers. The 737-8 reduces fuel use and CO2 emissions by 16% compared to the airplanes it replaces, and that superior fuel efficiency means lower operating costs and a smaller environmental footprint. Every airplane features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.
Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries, leveraging the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.
777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.