Wed, Dec 01, 2010
Purchase In Line With Airline's Medium-Term Growth Plans
Boeing and Copa Airlines today announced an order for 22
Next-Generation 737-800s at a signing ceremony at the U.S.
Department of Commerce in Washington, D.C. The order previously was
attributed to an unidentified customer on Boeing's orders and
deliveries website.
"We thank Copa Airlines for this significant order and are very
proud to partner with one of the most successful airlines in the
industry," said Jim Albaugh, president and CEO of Boeing Commercial
Airplanes. "Copa's exceptional business model, ideal geographic
position and modern and efficient fleet will continue to drive its
leadership in the Latin American aviation market."
"These 22 firm aircraft plus 10 options, which deliver between
2015 and 2018, are an integral part of our medium term growth
plan," said Pedro Heilbron, CEO of Copa Airlines. "This is the
largest aircraft order in Copa's history, which is a reflection not
only of our confidence in the future of Latin America and Panama,
but also of our successful business model, which has made our Hub
of the America's the best connecting point for intra-Latin America
travel."
The airplanes are valued at approximately $1.7 billion at list
prices and nearly double Copa's existing Next-Generation 737 fleet.
The order is the largest new aircraft order in Copa Airlines'
history and is part of the airlines' plan to continue to grow its
fleet to meet market demands for new-generation, more
fuel-efficient airplanes. "Today's signing not only celebrates the
strong relationship between Boeing and Copa Airlines, but also
symbolizes the strong political and commercial ties between the
United States and Panama," Albaugh said.
The new airplanes will benefit from performance improvements
expected to result in a 2 percent reduction in fuel consumption
through a combination of airframe and engine improvements. The
performance improvements will be delivered beginning in mid-2011
through early 2012.
Operating out of the "Hub of the Americas" in Panama City, Copa
provides service to 46 destinations in 24 countries. In the past
two years, Copa has purchased 37 Next-Generation 737-800s new from
Boeing and entered into leasing agreements for an additional
10.
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