The aircraft leasing and financing arm of General Electric (GE) has cancelled an order for 69 Boeing 737 Max aircraft.
Irish-American GE Capital Aviation Services (GECAS) has been re-evaluating its order book as global aircraft demand drops off with the Coronavirus (COVID-19) pandemic.
Although not mentioned directly as a reason by GECAS, the Boeing 737 Max is still grounded following two fatal accidents that have been blamed on software that Boeing created for its MCAS system which was designed to prevent aircraft stalling.
That probably led the company to cut the 737 Max as opposed to other types.
In a statement, Greg Conlon, Chief Executive Officer of GECAS said “Today’s agreement will help GECAS better align our available fleet with the needs of our global customer base”