The 737 MAX 8 Boeing Business Jets (BBJ) have been configured with a business-class interior and fitted with an advanced communications suite, and will replace two 737-700 BBJs that have been in service since 2002.
It was announced in February 2022 that the National Australia Bank (NAB) had been awarded a $372 million contract to provide the Commonwealth with the two MAX 8s for an initial lease of 12 years, after government approval to acquire the new aircraft was given in December 2021.
However, The Australian reported on 20 May that the projected lease payments over the planned service life of the new aircraft had blown out by more than $175 million to $550 million, so a decision has reportedly been made to acquire the aircraft outright for about $450 million from unspent Defence funding from the 2023-24 budget year.
