Boeing secures deal for 20 787 Dreamliners with a list price of $2.7 billion

Monday, November 21st 2005, 10:10 am

By: News On 6

DUBAI, United Arab Emirates (AP) _ Boeing Co. and International Lease Finance Corp. announced Monday a deal for 20 Boeing 787 Dreamliners. The list price of the planes is $2.7 billion, but big customers normally get a discount.

The announcement _ made during the second day of the Dubai Airshow, the region's largest aircraft exhibition _ makes ILFC the first leasing company to buy the Dreamliners. ILFC is a unit of American International Group Inc.

Chicago-based Boeing touts the 787 as a more efficient, slightly larger version of its 747 workhorse.

ILFC will receive the first aircraft in January 2010 and has the option of buying four more of the aircraft.

``The 787 will meet the demand we expect from our airline customers for the breakthrough passenger comforts and operating efficiencies of the Dreamliner,'' said Steven F. Udvar-Hazy, chairman and chief executive officer of ILFC.

The company, with clients worldwide, including Air France-KLM, Lufthansa AG, Emirates Airlines, Hong Kong's flagship airline Cathay Pacific Airways Ltd. and Air India, has ordered 698 Boeing jets since 1977.

``This is a great day for the 787 and our partnership with ILFC,'' said Boeing commercial airplanes president and chief executive officer Alan Mulally. ``To have this leading global lessor choose the 787 is a bellwether endorsement for the industry and for the passenger appeal of our newest airplane.''

On Sunday the chairman of Emirates Airlines said the carrier has placed an order for 42 Boeing 777 jets worth $9.7 billion at list prices, while China has signed a deal to buy 70 Boeing 737 airliners valued at $4 billion. Chinese airlines also will buy 80 more soon, the government said Sunday during a visit to Beijing by President Bush.