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The jet leasing arm of Newport Beach-based insurance company Pacific LifeCorp said Wednesday it has ordered 15 of Boeing Co.’s next generation 737-700s.
The $934 million order is the ninth purchase from Boeing by Pacific Life’s Aviation Capital Group in about two years. It follows April’s order of 17 737s for about $1 billion.
Aviation Capital Group buys planes and leases them to nearly 100 airlines in more than 40 countries.
The company said in May that it had plans to double the number of planes it already owns with orders of $10.5 billion.
“We continue to order the 737 with the latest technological improvements,”
said R. Stephen Hannahs, group managing director and chief executive of Aviation Capital.
Hannahs said in a May interview that his company was buying to meet a boost in global demand, despite higher fuel costs eating into carriers and consolidation.
It also has on order 45 A320 passenger jets from Airbus SAS, part of European Aeronautic Defense
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