Lease Orders Have Brought In New Business, Boeing Says

Boeing and British Airways recently signed an order for two Boeing 777-300ER jetliners valued at $529 million at list prices. The American planemaker also announced that GE Commercial Aviation Services (GECAS) has purchased two 777-300ERs, airplanes that were previously listed as an unidentified order on the Boeing Web site.

The airplanes are two of four 777s that BA has agreed to lease from GECAS -- including two 777s ordered in 2007 -- as part of its recent commitment to the 777-300ER. British Airways also secured options for four additional 777-300ERs directly with Boeing.

"Boeing and British Airways have a relationship that stretches back over the last 50 years and this order is a reaffirmation of this ongoing partnership," said Marlin Dailey, Boeing Commercial Airplanes vice president of Sales for Europe, Russia and Central Asia. "The 777-300ER offers exceptional fuel economy and environmental credentials and will integrate seamlessly into British Airways' existing twin-aisle fleet.

"In addition, our key partner GECAS continues to demonstrate confidence in the 777. With the 777s GECAS has ordered in the last two years, it has created five new 777 customers. Three of the five new customers have subsequently purchased new 777s directly from Boeing," Dailey said.

The two airplanes GECAS ordered are valued at $529 million at catalog prices and raise to 25 the number of 777s (Freighters and 777-300ERs) that GECAS has purchased since November 2006. The 25 airplanes have been placed on long-term lease with six different carriers, including British Airways.

Boeing pitches the 777-300ER as 18 percent lighter than its closest competitor, while consuming 20 percent less fuel per seat and costing 16 percent less to operate. The 777 family has the reputation as one of the most reliable twin-aisle commercial airplanes flying today.

FMI: www.boeing.com, www.gecas.com, www.britishairways.com