SEATTLE – Cayman Airways took formal delivery of its new Boeing 737 Max 8 aircraft from Air Lease Corporation (“ALC”) on November 28, 2018 at a ceremony in Seattle hosted by Boeing to mark the occasion.
“This year, as we celebrate 50 years of safe and reliable service, we take great pride in introducing the first Boeing 737-Max 8 to our fleet,” said Fabian Whorms, President and CEO of Cayman Airways. “Over the next 20 months, we will be adding three additional Max 8 aircraft while retiring our existing Boeing 737-300 jet fleet. Following a competitive public tendering process, the unique lease structure and terms offered to Cayman Airways by ALC, has afforded Cayman Airways the ability to be the first B737-8 MAX operator based in the Caribbean, and we look forward to a strong working relationship with ALC.”
“ALC is pleased to announce this new Boeing 737 MAX 8 delivery with Cayman Airways today,” said Steven F. Udvar-Hἁzy, Executive Chairman of Air Lease Corporation. “With this new MAX 8 and the additional three aircraft set to deliver from ALC, Cayman Airways is successfully modernizing its fleet with the most technologically advanced, fuel-efficient aircraft to enhance the airline’s overall operations, maximize customer comfort and bring a new standard of excellence for travelers to and from The Cayman Islands.”
“In 2014, we purchased our 737-300s as the first step of our fleet modernization plan. That purchase was made with the expectation to retire those aircraft within three to five years and the aim of replacing them with a new fleet capable of cutting fuel consumption and maintenance costs, while offering greater opportunities for revenue growth and enhanced customer experience,” said Philip Rankin, Chairman of the Cayman Airways Board of Directors. “In 2016, our business case demonstrated that the Boeing 737 Max 8 was the preferred aircraft, but was expected to be out of reach financially. However, the unique terms and pricing of the successful proposal from ALC made these aircraft a logical replacement choice for our retiring B737-300s compared to any other available mission-suitable aircraft, be it new or used.”
As part of its fleet modernization plan, Cayman Airways is replacing its four 737-300 aircraft with the MAX 8, offering 30 percent more seating capacity while achieving up to 30 percent savings in fuel costs. The airplane incorporates the latest technology – CFM International LEAP-1B engines, Advanced Technology winglets, and other airframe enhancements to improve performance and reduce operating costs.
The new Boeing 737 Max 8 is expected to arrive on Grand Cayman on Friday, November 30, 2018 around 4:30 p.m., where there will also be a customary celebration for its arrival
