Mon, Mar 12, 2007
$2.26 Billion (List) Deal Also Includes 737s
Aero-News has learned Boeing and ALAFCO Aviation Lease and
Finance Company held a formal signing ceremony Monday for the
direct purchase of 12 787-8 airplanes and six 737-800s. The total
value of the deal is $2.26 billion at list prices.
Six of the 787s on order from ALAFCO were booked as unidentified
on Boeing's Orders & Deliveries Web site in September 2006. The
additional airplanes will be posted to the Web site in March, and
will be including in the planemaker's 2007 order numbers. The
Sharia-based leasing and finance company is the first Middle East
customer to finalize its order for Boeing's popular 787
The signing ceremony was hosted by ALAFCO's Chairman and CEO Mr.
Ahmad Alzabin and Lee Monson, Boeing's vice president of sales for
the Middle East & Africa.
"We're proud to be the first Middle Eastern company to purchase
the 787-8 and our confidence to place this innovative airplane with
airlines is further bolstered by the unprecedented demand for
Boeing's Dreamliner," said Alzabin. "The advanced technologies used
to build this airplane will result in great operating efficiencies
and substantial cost savings for our airline customers. Both the
787-8 and the very popular Next-Generation 737-800 are strategic
investments for ALAFCO, and this order will move the company closer
to the realization of our ambitious growth plan."
ALAFCO became a
publically-traded company in October 2006. It currently has
airplanes on lease with nine carriers worldwide.
"This is a proud day for Boeing in the Middle East," said
Boeing's Monson. "ALAFCO's demonstrated faith in Boeing airplanes
has further strengthened our working relationship and we're proud
to be included as part of what we know is a very sound strategy for
growth and continuing success. The Boeing sales teams working
around the world will do their utmost to coordinate with ALAFCO on
lease content and availability where appropriate."
Boeing reports since it reorganized its sales regions in 2005 --
and deployed a dedicated team in the Middle East -- the planemaker
has seen a dramatic turnaround in its market share of commercial
airplanes sold in the region.
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