Aircraft Purchase Agreement and Risk of Delayed 737 MAX Deliveries
First written in FY2020. 8 of 20 entries say "Worsened", first in FY2022-Q1. Latest entry: 2026-10-16.
No other company in this theme has enough history to compare yet.
- 2026-10-16WorsenedM&A and Subsidiary Changes
「A320neo シリーズ ：75 機 約 18,560 億円 2032 年～2035 年」
航空機購入契約・納入に関するエクスポージャーについて、約1兆8,560億円のカタログ価格に相当する75機の発注と、2035年までの受領時期が追加された。購入額・納入期間に関する影響範囲が拡大している。 - FY2026WorsenedAnnual report
「As of 31 December 2025, our consolidated subsidiary Aviation Capital Group LLC (ACG) had contracts to purchase 135 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2031.」
ACG's aircraft purchase contracts were updated to 135 aircraft, scheduled payments of ¥1,173,245 million and deliveries through 2031. In addition, orders and contracts were added for 50 Boeing aircraft and 24 Avolon aircraft, expanding purchase exposure. - 2026-05-11AdvancedEarnings
「On 12 January 2026, we resolved to order 50 aircraft from Boeing. The aircraft are scheduled for delivery from 2032 through 2033.」
Added an order for 50 aircraft under an aircraft purchase agreement, scheduled for delivery from 2032 to 2033. - FY2026-H1WorsenedAnnual report
「As of 30 June 2025, our consolidated subsidiary Aviation Capital Group LLC (ACG) had contracts to purchase 170 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2031. On 29 April 2025, ACG entered into a contract with Avolon Aerospace Leasing Limited to purchase 20 aircraft. As of 30 June 2025, 3 of the 20 aircraft had been delivered, and the remaining 17 are scheduled to be delivered from time to time under the contract by December 2025. The total scheduled payments for aircraft purchases under the above contracts and other agreements amount to ¥1,373,913 million (US$9,487 million).」
The aircraft purchase contracts were updated to 170 aircraft, scheduled payments of ¥1,373,913 million and deliveries through 2031. In addition, ACG entered into a contract with Avolon for 20 aircraft, of which 3 have been delivered and 17 are scheduled to be delivered by December 2025, expanding and extending purchase and delivery exposure. - FY2025-H1Update to aircraft purchase contracts and additional ordersAnnual report
「As of 30 June 2024, our consolidated subsidiary Aviation Capital Group LLC (ACG) had contracts to purchase 112 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥951,173 million (US$5,902 million). On 11 July 2024, ACG resolved to place an order with Boeing for 35 aircraft. Deliveries of the aircraft under this order are scheduled to begin during the period covered by the next medium-term management plan and to be completed by 2031.」
ACG's existing aircraft purchase contracts were updated to 112 aircraft, scheduled payments of ¥951,173 million and deliveries through 2028. In addition, ACG placed an order with Boeing for 35 aircraft, with deliveries scheduled to begin during the next medium-term management plan and continue through 2031. - FY2024-Q3Update to contract sizeAnnual report
「As of 30 September 2023, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 127 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥1,001,268 million (US$6,693 million).」
The aircraft purchase contracts were updated to 127 aircraft, scheduled payments of ¥1,001,268 million and deliveries through 2028. While the number of aircraft decreased from the previously disclosed 128, scheduled payments increased. - FY2024-Q2Update to contract sizeAnnual report
「As of 30 June 2023, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 119 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥912,016 million (US$6,290 million).」
The aircraft purchase contracts were updated to 119 aircraft, scheduled payments of ¥912,016 million and deliveries through 2028. While the number of aircraft decreased from the previous fiscal year-end disclosure, scheduled payments increased, updating the contract size. - FY2024-Q1WorsenedAnnual report
「As of 31 March 2023, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 128 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The total scheduled payments for aircraft purchases under these contracts amount to ¥904,346 million (US$6,772 million).」
The aircraft purchase contracts were updated from 121 aircraft and ¥842,588 million at the end of the previous fiscal year to 128 aircraft and ¥904,346 million, expanding purchase and delivery exposure through 2028. - FY2023Reduction in aircraft purchase contract sizeAnnual report
「As of 31 December 2022, Aviation Capital Group LLC had contracts to purchase 121 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. Total scheduled payments amount to ¥842,588 million.」
The purchase contract size was reduced from the previously disclosed 128 aircraft and ¥961,492 million to 121 aircraft and ¥842,588 million. The delivery deadline through 2028 remains unchanged. - FY2023-Q3WorsenedAnnual report
「As of 30 September 2022, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 128 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥961,492 million (US$6,639 million).」
The aircraft purchase contracts were updated from the 67 aircraft and ¥306,772 million disclosed for the previous quarter to 128 aircraft and ¥961,492 million. Both the number of aircraft and scheduled payments increased, expanding purchase and delivery exposure through 2028. - FY2023-Q2WorsenedAnnual report
「As of 30 June 2022, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 133 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥941,470 million.」
The aircraft purchase contracts were updated to 133 aircraft, scheduled payments of ¥941,470 million and deliveries through 2028, increasing purchase exposure from the previously disclosed 109 aircraft and ¥682,488 million. - FY2023-Q1WorsenedAnnual report
「As of 31 March 2022, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 109 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2028. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥682,488 million.」
The aircraft purchase contracts were updated to 109 aircraft, scheduled payments of ¥682,488 million and deliveries through 2028, expanding and extending the purchase exposure from the previously disclosed contract size and delivery deadline. - FY2022-Q3Reduced contract size and additional ordersAnnual report
「As of 30 September 2021, our consolidated subsidiary Aviation Capital Group LLC (ACG) had contracts to purchase 56 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥262,426 million. On 30 December 2021, ACG resolved to place an order with Airbus for 60 aircraft. The aircraft under this order are scheduled to be delivered between 2024 and 2028.」
While the existing aircraft purchase contracts were disclosed as reduced to 56 aircraft with scheduled payments of ¥262,426 million, a separate resolution was made to place an additional order with Airbus for 60 aircraft, with deliveries scheduled between 2024 and 2028. - FY2022-Q2Reduction in purchase contract sizeAnnual report
「As of 30 June 2021, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 67 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥306,772 million.」
The aircraft purchase contracts were reduced from the previously disclosed 73 aircraft and ¥318,523 million to 67 aircraft and ¥306,772 million. Deliveries through 2025 remain scheduled. - FY2022-Q1WorsenedAnnual report
「As of 31 March 2021, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 76 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥347,829 million.」
ACG's aircraft purchase contracts increased from the previously disclosed 73 aircraft and ¥318,523 million to 76 aircraft and ¥347,829 million. Deliveries through 2025 are also scheduled, updating the exposure associated with the purchases and deliveries. - FY2021Reduction in purchase contract sizeAnnual report
「As of 31 December 2020, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 73 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥318,523 million.」
The aircraft purchase contracts were reduced from the previously disclosed 128 aircraft and ¥643,056 million to 73 aircraft and ¥318,523 million. Deliveries through 2025 remain scheduled. - FY2021-Q3Update to contract sizeAnnual report
「As of 5 November 2020, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 128 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥643,056 million.」
For ACG's aircraft purchase contracts, deliveries through 2025 remain scheduled, while the number of aircraft was updated to 128 and scheduled payments to ¥643,056 million. - FY2021-Q2Updates to contract size and termsAnnual report
「As of 17 August 2020, our consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 129 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines, among others. The aircraft are scheduled to be delivered from time to time under the contracts through 2025. The total scheduled payments for aircraft purchases under these contracts and other agreements amount to ¥658,618 million. The aircraft to be purchased include Boeing 737 MAX aircraft, which are currently subject to flight suspension orders issued by regulatory authorities in various countries, and the delivery schedule and payment amounts may change depending on the status of the resumption of operations. The aircraft purchase contracts with Boeing and Airbus also include provisions allowing the purchases to be cancelled if delivery is delayed beyond the originally scheduled date by a specified period or longer.」
ACG's aircraft purchase contracts were updated to 129 aircraft, with scheduled payments of ¥658,618 million. The disclosure also covers deliveries through 2025, potential changes relating to the 737 MAX, and provisions allowing purchases to be cancelled in the event of delivery delays. - FY2021-Q1Updates to contract size and termsAnnual report
「As of 18 May 2020, the company's consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 156 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines. The aircraft scheduled for purchase were to be delivered periodically under the contracts by 2025. The total amount scheduled to be paid for aircraft purchases under these contracts and other arrangements was ¥789.816 billion.」
The terms of ACG's aircraft purchase contracts were updated to 156 aircraft, scheduled payments of ¥789.816 billion and deliveries by 2025. In addition to the possibility of changes to the delivery timing and payment amounts for the 737 MAX, the company also disclosed a cancellation clause applicable if deliveries are delayed. - FY2020First statedAnnual report
「As of the end of the consolidated fiscal year, the company's consolidated subsidiary Aviation Capital Group LLC had contracts to purchase 165 aircraft, primarily narrow-body aircraft, from Boeing, Airbus and airlines. The aircraft scheduled for purchase were to be delivered periodically under the contracts by 2025. The total amount scheduled to be paid for aircraft purchases under these contracts and other arrangements was ¥846.911 billion as of the end of the consolidated fiscal year. The aircraft scheduled for purchase include Boeing 737 MAX aircraft, which are currently subject to operating bans issued by regulatory authorities in various countries. The delivery timing and payment amounts may change depending on the status of the resumption of operations and other factors.」
In connection with ACG becoming a wholly owned subsidiary, the company newly disclosed aircraft purchase contracts for 165 aircraft scheduled for delivery by 2025, with scheduled payments of ¥846.911 billion, as well as the risk that delivery timing and payment amounts may change depending on the resumption of 737 MAX operations.