Signs Contract For Ten 787s
Boeing and Ethiopian
Airlines announced Tuesday that the airline has increased its firm
orders for the 787 Dreamliner to 10 airplanes by exercising
purchase rights obtained with its initial order announced Feb 4th.
The airline is the first 787 customer to exercise purchase rights
or options for the rapidly selling new Boeing jetliner.
Ethiopian Airlines and Boeing also said they have completed the
contract for the airline's 10 Dreamliners, valued at US$1.6 billion
at list prices.
"Having been the first to bring jet service to the African
continent, Ethiopian Airlines is excited to once again be the first
by launching operations in Africa with this revolutionary
airplane," Ethiopian Airlines CEO Ato Girma Wake said. "The 787,
represents the future—one in which Ethiopian Airlines will
play a major part—and we view this airplane to be a
cutting-edge solution to bolster our passenger service, improve our
efficiencies and add to the airline's bottom line."
Ethiopian Airlines moved quickly to secure its five additional
delivery positions for the 787 following a series of recent order
announcements for the airplane, which is essentially sold out for
its first three years of production. Its first 787 is scheduled for
delivery to its Addis Ababa home base in 2008.
"The market appeal for the 787 continues to grow," said Alan
Mulally, president and CEO of Boeing Commercial Airplanes. "We're
proud to strengthen our long-standing partnership with Ethiopian
Airlines through the 787, which will help airlines all over the
world operate profitably while flying people directly where they
want to go, with exceptional comfort and with unmatched economic
Ethiopian Airlines will be the first Africa-based operator of
the technologically advanced and rapidly selling jet and one of the
first anywhere to receive the Dreamliner.
Developed as an entirely new airplane and incorporating
composite technology that lends to operating efficiencies and
performance characteristics exceeding conventional airframes,
Boeing's 787 continues to gain ground with airlines worldwide.
Boeing now has 266 orders and commitments from 21 customers for
the 787. The Ethiopian Airlines order will be booked on Boeing's
Orders and Deliveries Web site pending final documentation of U.S.
Ex-Im Bank guarantees.
Boeing's partnership with Ethiopian Airlines dates back some 50
years. Today, it operates an all-Boeing fleet of 737 and 767