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Boeing, Aeromexico, ILFC Announce Deal for 787 Dreamliners

Analysis

Seattle (BOEING) - Boeing [NYSE: BA] International Lease Finance Corp. (ILFC) and Aeromexico, Mexico's largest airline, today announced the carrier will operate three 787 Dreamliner airplanes, making it the first Latin American airline to incorporate the mostly composite airplane into its fleet.


Aeromexico will lease the three 787-8s from ILFC with deliveries scheduled to begin in early 2010. ILFC has 20 787 Dreamliners on order.

The announcement follows Aeromexico orders earlier this year for six Next-Generation 737s and the recent deliveries of two 777-200ERs. The twin-aisle 787s and 777s are part of Aeromexico's continued fleet renewal plan and will be used on routes to Europe and Asia and will replace Boeing 767s that are coming off of leases. The 777s, also leased from ILFC, and 787s will provide long-range, point-to-point capability and flexibility to respond to changing capacity demands.

"With similar speeds, mission capabilities and cockpit commonality, the combination of the 787 with the 777 will provide Aeromexico with optimum fleet flexibility on long-range missions," said John Wojick, vice president Sales, Latin America and the Caribbean - Boeing Commercial Airplanes.

"By ordering three 787s, the airline has given fresh impetus to its fleet modernization program, which aims to improve the airline's operational efficiency and consolidate its leadership in Mexico and Latin America, in both the quality of its aircraft and the service it provides its customers," said Andres Conesa, Aeromexico Chief Executive Officer.

"The 787 will provide Aeromexico with breakthrough passenger comfort and operating efficiencies on their long-range routes," said Steven F. Udvar-Hazy, chairman and chief executive officer of ILFC. ILFC ordered 20 Dreamliners in November and has ordered 698 Boeing jets since 1977.

To date, Boeing has received a total of 403 orders and commitments for the 787. Aeromexico joins a growing team of 787 customers who have recognized the 787's exceptional value and superior operating performance.

The Boeing 787 Dreamliner is being designed with airlines, passengers, investors and the environment in mind. The technologically advanced airplane will use 20 percent less fuel than today's airplanes of comparable size, provide customers with significantly more cargo revenue capacity, and present passengers with innovations including a new interior environment with higher humidity, wider seats and aisles, larger windows and other conveniences.

The Boeing 777 family of airplanes is the world's most advanced, and continues to evolve with the recent addition of the world's longest-range airliner, the 777-200LR Worldliner, and the Boeing 777 Freighter. To date, 43 airlines have placed orders for 849 777s, making it the most preferred wide-body airplane in its class.

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