Tue, Nov 28, 2006
But Some Fear Carrier May Have Problems Paying
It would be the biggest 737 order ever from a German airline.
But analysts fear Air Berlin may have some difficulty in securing
funding for the 60 Boeing aircraft the carrier announced it plans
to purchase from the American aerospace company.
Florence Tassan, an analyst at Societe Generale, told CBS
Marketwatch the 14.3 percent drop in the low cost carrier's stock
price that followed announcement of the order stems from concerns
over funding for the fleet expansion. She added that the outlook is
By contrast, Air Berlin CEO Joachim Hunold says the airline is
already looking past the order, trying to decide whether to add
another 40 planes next year -- and whether those will also be 737s,
or Airbus A320s. Hunold says Air Berlin is "exploring alternatives"
for financing the 737 order.
Boeing greeted the news of the Air Berlin order with what could
be described as measured enthusiasm.
"The Boeing Company is delighted that German airline Air Berlin
intends to purchase 60 Boeing Next-Generation 737-800s and is also
identifying an order placed earlier this year for 15 737-700s," the
manufacturer said in a statement to ANN. "The combined value of the
75 airplanes is $5.1 billion at list prices."
"Air Berlin and Boeing are in the process of finalizing the
order for the 60 airplanes," Boeing continued. "The 15 737-700s
were purchased by German airline dba and previously accounted for
on the Boeing Orders & Deliveries Web site, but were not
identified. Since then, dba has been acquired by Air Berlin."
Boeing states Air Berlin also has 10 unfilled 737-700 orders
from a dba order announced in 2005. If Air Berlin exercises all its
orders, it will take delivery of a total of 85 737s, beginning in
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