Boeing Co. (NYSE:BA) and Avolon said Wednesday the aircraft lessor finalized an order for 140 737-10 jets, a record 737 MAX order by a lessor that raises Avolon’s backlog to more than 240 unfilled Boeing airplanes.
Avolon Expands 737 MAX Backlog
Lessors have placed firm orders for more than 230 737-10 airplanes in 2026, five times the 737-10 lessor backlog at the end of 2025. Boeing said lessors have ordered more than 1,450 737 MAX aircraft overall, accounting for about 20% of its backlog.
The 737-10 can seat up to 230 passengers and has a range of 3,100 nautical miles. Boeing said larger single-aisle aircraft represent the fastest-growing segment of commercial aviation.
“We continue to see strong demand for new technology aircraft, and this order further strengthens our long-term delivery pipeline,” Avolon CEO Andy Cronin said.
Cronin said the 737-10 combines capacity with operating economics that airlines increasingly require and will help Avolon support airline growth and fleet renewal into the next decade.
Boeing Sees Middle East Fleet Doubling by 2045
Boeing’s 2026 Commercial Market Outlook, its annual 20-year forecast for airplane and aviation services demand, projects Middle East passenger traffic to grow 4.3% annually through 2045.
That growth is expected to support a doubling of the region’s commercial fleet to more than 3,500 aircraft.
Boeing expects airlines in the Middle East to take delivery of 2,995 new airplanes over the period, including 1,505 single-aisle jets, 1,370 widebody aircraft and 120 freighters.
The company also forecasts $475 billion in commercial aviation services spending in the region and expects demand for 236,000 new aviation professionals through 2045.
“The Middle East has long established itself as one of the world’s most important aviation crossroads, connecting people and economies throughout Asia, Africa and Europe,” said Shahab Matin, Boeing managing director of Commercial Marketing, Middle East and Africa.
Boeing Technicals Signal Continued Weakness
Boeing remains in a bearish technical setup, trading below its 20-day, 50-day and 200-day simple moving averages.
The stock sits 5.1% below its 20-day SMA, 10.4% below its 50-day SMA, and 19.4% below its 200-day SMA. Its RSI of 36.14 is neutral but approaching oversold territory.
The MACD remains below its signal line, pointing to continued negative momentum. Key resistance stands at $193.50, while no clear support level has emerged.
Over the past 12 months, the stock has declined 12.49% and trades near the lower end of its 52-week range of $165.01-$254.35. It currently sits at about 10.5% of that range, keeping the broader technical picture weak.
BA Stock Price Activity: Boeing shares are trading higher by 1.12% at $175.25 during premarket trading on Wednesday, according to Benzinga Pro data.
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