Switzerland-Based Business Aviation Group Expands 787 VIP order

Boeing and Geneva-based PrivatAir have announced an order for one Boeing 787-8 VIP airplane, a purchase-right exercise from PrivatAir's initial 787 order in 2006. Today's order is valued at $162 million. Through this agreement, PrivatAir has two 787s on order and has secured an additional purchase right.

"The ever-increasing demand from charter customers for long-range, large-cabin aircraft shows no sign of abating, and PrivatAir is strategically placed to provide its customers with the widest range of travel options," said Greg Thomas, CEO of PrivatAir. "This latest order will further expand the capabilities of PrivatAir's fleet, enabling our passengers to travel further, faster and in greater comfort."

Since launching the 787 program in 2004, Boeing has secured 841 orders from 55 customers, including a record-breaking 369 orders in 2007.

"PrivatAir clearly recognizes the outstanding potential of the 787 VIP jet for business and private jet operations, both from an economic viewpoint as well as passenger luxuries," said Marlin Dailey, vice president of Sales, Europe, Russia & Central Asia, Boeing Commercial Airplanes. "The 787 VIP airplane provides PrivatAir the opportunity to raise the bar even higher."

PrivatAir is a leading international business aviation group with headquarters in Geneva; operating bases in Düsseldorf, Hamburg and Munich, Germany; in Zurich, Switzerland; and through its U.S. subsidiary PrivatAir Inc. The company employs 540 people and manages a fleet of some 50 aircraft with a turnover exceeding $200 million.

FMI: www.boeing.com