Griffin Global Asset Management adds five 737-8 jets to portfolio

Boeing and Griffin Global Asset Management announced Wednesday the aircraft lessor is expanding its commercial aircraft portfolio with five new 737-8 jets. The purchase is Griffin’s first direct order with Boeing as it sees strategic opportunities to place the airplanes during the market recovery.

“As market conditions rebound, we are finding opportunities to serve our airline customers in innovative ways,” said Ryan McKenna, founder and CEO of Griffin, in a Boeing press release. “This order lays a strong foundation for more to come with Boeing and Griffin on future opportunities.”

Designed and built in Renton, Wash., the 737 MAX family delivers superior efficiency, flexibility and reliability while reducing fuel use and carbon emissions by at least 14% compared to the airplanes they replace. The 737-8 seats up to 189 passengers and can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers.

Backed by Bain Capital Credit, Griffin provides commercial aircraft leasing and alternative asset management with offices in Dublin and Los Angeles.