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Wed, Nov 22, 2006

Korean Air Orders 25 Boeing Passenger Planes, Freighters

Puts Boeing Ahead Of Airbus By 339 Planes For Year

It's the largest single order ever for commercial airliners from South Korea... and it went to Boeing.

Korean Air announced Tuesday it would buy 25 passenger and freighter aircraft in a deal valued at $5.5 billion dollars at list prices. The carrier ordered 10 777-300ERs and five 737-900/700 single-aisle passenger planes, along with five 747-8 and five 777-200 freighters.

"Korean Air is a world-class airline, and we value our long relationship with this important customer," said Larry Dickenson, Boeing Commercial Airplanes vice president of Sales. "Korean Air is buying the world's most fuel-efficient, technologically advanced aircraft to meet their requirements, and we look forward to continuing our strong working relationship. We are proud to produce the airplanes that play a key role in Korean Air's plans for growth and leadership."

The airline also has options for eight additional aircraft, including four 777-300ERs, two 747-8Fs and two 737-900ERs. The aircraft will be delivered between 2009 and 2019.

In a statement to ANN, Korean Air said its orders will "enhance the carrier's operation efficiency through modernization of the fleet and reduction in fuel and operational costs."

The order sent Boeing stock to an all-time high. As it stands now, Boeing has 847 orders so far for the year... outpacing Airbus by 339. At this time last year, Airbus trailed Boeing by just over 200 orders... but wound up beating Boeing in the end, helped greatly by a surprise 150-plane order from China.

Will history repeat? Well, as last year proved, never count Airbus out. But 339 orders...

FMI: www.boeing.com, www.koreanair.com

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