Conversion nets Boeing $325 million

The FL Group, formerly Flugleidir Icelandair, has converted purchase rights from a January order into a new firm order for five additional

Next-Generation 737-800 aircraft.

The five new aeroplanes for the all-Boeing customer are valued at $325 million at list prices. Boeing will deliver the five new aeroplanes in 2007, while deliveries from the January order will occur next year.

As with the previous order, The FL Group, Icelandair's parent company, will lease the aeroplanes to other carriers outside of Iceland. Icelandair ordered two Boeing 787 Dreamliners in February and is a member of the 787 customer launch team.

Boeing says that the Next-Generation 737 is the newest and fastest selling single-aisle jetliner, with more than 2,400 aeroplanes ordered and 1,600 deliveries.