United Airlines Finalizes Sale-Leaseback Agreement for 20 Boeing 737 MAX 9s

United Airlines has secured a purchase and leaseback deal with SMBC Aviation Capital for 20 Boeing 737 MAX aircraft, which are slated to arrive by the end of 2026.

On December 11, 2025, SMBC Aviation announced that this marks their “third major deal” in collaboration with United Airlines.

Previously, agreements were made between United Airlines and SMBC Aviation for the lease of 20 Airbus A321neo planes and a prior purchase and leaseback of 20 Boeing 737 MAX 8 jets.

Michael Leskinen, United’s Chief Financial Officer, expressed appreciation for SMBC Aviation’s comprehensive approach, saying, “We value our strong, longstanding relationship with SMBC Aviation Capital and their role in our ongoing fleet modernization.” He highlighted how this transaction supports United’s fleet strategy and aims to enhance customer experience.

Barry Flannery, the Chief Commercial Officer at SMBC Aviation Capital, also noted, “We are delighted to expand our relationship with United Airlines.” He emphasized that these new aircraft would significantly contribute to United’s strategy with the latest fuel-efficient technology. Flannery looks forward to further enhancing their partnership and supporting United’s long-term goals.

In July 2025, United Airlines had entered a similar purchase and leaseback agreement with Dubai Aerospace Enterprise (DAE) for 10 Boeing 737 MAX 9 jets, scheduled to be delivered between August 2025 and February 2026.

A purchase and leaseback arrangement enables airlines to sell aircraft to financial institutions and then lease them back, generating funds and allowing more liquidity for other business needs.

What are your thoughts on how these new aircraft will enhance United Airlines’ operations?