Business booming at Boeing

Boeing announced yesterday that it has confirmed orders worth over $1 billion for up to 20 737-800s from EgyptAir and Turkish Airlines.

Boeing and EgyptAir formally concluded contract negotiations on August 1, resulting in an order for up to 12 737-800s. The firm order is for six airplanes with purchase options for an additional six. The complete airplane deal is valued at $850 million at list prices.

EgyptAir currently has four Boeing 737-500s, five 777-200s and two 747-300s as part of their mixed fleet of airplanes. The airline will take delivery of its first 737-800 in September 2006, with the remaining airplanes joining its fleet by December 2009.

Boeing has also confirmed that Turkish Airlines has exercised options for eight Boeing Next-Generation 737-800s. The airplanes are scheduled for delivery in 2008 and are worth an estimated $542 million at list prices. The options were part of an order placed by Turkish Airlines in 2004 for 15 Boeing 737s.

“Moving forward on our growth strategy, we are looking to open new markets in Europe and Central Asia. The Next-Generation 737s’ operational flexibility will play an integral part of that strategy,” said Dr. Temel Kotil, President and CEO of Turkish Airlines.

Turkish Airlines operates a mix of 43 Boeing Classics and Next-Generation 737s. To date, 88 airlines have placed orders for more than 2,700 Next-Generation 737s.

“The Turkish economy is expected to grow at a faster rate than elsewhere in Europe over the next several years. Turkish Airlines is equipping its fleet with the right product to successfully manage the booming demand from both leisure and business travellers,” said Aldo Basile, Sales director for Turkey , Boeing Commercial Airplanes.