Boeing lands $4 billion in orders
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Manufacturing News, Source : TheManufacturer.com
Published : 14 Jun 2005 15:51
Two companies, GE Commercial Aviation Services and International Lease Finance Corp., have placed significant orders with Boeing.
This year’s Paris Air Show has proven to be a success for The Boeing Company. The aviation giant secured two major deals totaling $4 billion dollars from aircraft leasing companies GE Commercial Aviation Services and International Lease Finance Corp.
The GE deal calls for the purchase of 20 Boeing Next-Generation 737s worth US$1.1 billion at list prices. The 20 new airplanes are scheduled for delivery from 2006 into 2008. Six of these airplanes have already been placed with airlines.
"The Next-Generation 737 is popular among the world's airlines and we have been quite successful in placing the airplane with operators," said Henry Hubschman, president and CEO of GECAS. "Airlines appreciate the low operating costs, high reliability and the modern, flexible interior that meets their changing requirements. In addition the 737 maintains its value as an asset in our portfolio."
GECAS has directly ordered a total of 301 Boeing jetliners and currently has more than 600 Boeing airplanes in their fleet.
International Lease Finance Corp.’s commitment to 20 Next-Generation 737-700s/-800s, six 777-300ERs, and two 777-200ERs, is valued at nearly $2.9 billion at list prices.
The 777 deliveries begin late next year and will extend into 2008. The 737 portion of the order will be delivered in 2008.
"ILFC continues to experience sustained and robust leasing demand from our airline customers worldwide for new Boeing Next-Generation 737 airplanes and 777-200ER and 777-300ER intercontinental long-range jets,” said Steven F. Udvar-Hazy, chairman and chief executive officer - ILFC. “This transaction reinforces our nearly 30-year partnership with Boeing as the largest lessor of Boeing airliners."
ILFC is one of the world's top lessors and has placed the Boeing 777 and 737 at many different airline operators around the world. This order brings ILFC's total 737 orders to 417, with 78 remaining to be delivered, and total 777 orders to 75, with 27 future deliveries. ILFC has ordered 678 Boeing jets since 1977.
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