AerCap warns could scrap some Boeing MAX orders, withdraws outlook

(Reuters) – Aircraft leasing company AerCap Holdings on Tuesday warned it could cancel some Boeing 737 MAX orders and withdrew its full-year outlook amid a slump in travel demand due to the COVID-19 pandemic that has battered business globally.

The world’s largest aircraft leasing company said it had lost some of its Boeing 737 MAX leases and expects additional cancellations by airlines in the future.

“In cases where leases have been cancelled, we have the right to cancel our corresponding orders for delivery of those aircraft,” the company said in a statement.

Last month smaller rival and privately-held Avolon cancelled an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023.

(Reporting by Rachit Vats in Bengaluru; Editing by Supriya Kurane)