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Dublin, Ireland - Irish lessor AerCap said that the company was considering cancellations of 737 MAX orders with Boeing in case customers to do the same with AerCap.

The 737 MAX jets have been globally grounded since March 13, 2019, after two fatal crashes because of a software design fault. Boeing suspended the deliveries of the aircraft and then temporarily suspended the production of the aircraft. This resulted in ongoing delays in the delivery of the planes to the customers on order from Boeing.

Boeing currently expects that the necessary regulatory approvals will be obtained in time to support the resumption of the Boeing 737 MAX deliveries during the third quarter of 2020.

It is still uncertain, however, when and under what conditions the Boeing 737 MAX aircraft will return to service and when Boeing will resume making deliveries of the aircraft on order.

"We expect to incur future delays on our scheduled Boeing 737 MAX deliveries, and any such future delays are likely to have an impact on our financial results. Certain of our Boeing 737 MAX leases have now been canceled, and we expect additional leases to be canceled in the future,"

AerCap said during the announcement of its quarterly figures.

"In cases where leases have been canceled, we have the right to cancel our corresponding orders for delivery of those aircraft; nevertheless, these lease cancellations may have an adverse effect on our future cash flows and results of operations, which could be material,"

As of March 31, 2020, AerCap 95 Boeing 737 MAX aircraft on order with Boeing and five already delivered and on lease.
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