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Fri, Dec 14, 2007

Boeing, GE Commercial Aviation Services Announce 55-Plane Order

GECAS Order Includes 53 737s, Two 777s

Boeing and GE Commercial Aviation Services (GECAS) announced Thursday a 55-airplane order that includes 53 737-800s and two Boeing 777-300ER (Extended Range) passenger jetliners.

The order, valued at approximately $4.5 billion at list prices, includes an exercise of existing options, and was listed last week on the Boeing Orders & Deliveries Web site attributed to an unidentified customer.

"This additional order with Boeing will allow GECAS to help our customers around the world benefit from the leading-edge operational efficiency and excellence that the Boeing Next-Generation 737 and 777-300ER aircraft deliver," said Henry Hubschman, president and CEO of GECAS.

"Today's order by GECAS reaffirms the Boeing Next-Generation 737 as a highly successful asset, both in operation with our airline customers and in the financial community. GECAS, already the world's largest owner of 737s, continues to add to its portfolio with 309 total Next-Generation 737 orders," said Scott Carson, president and chief executive officer of Boeing Commercial Airplanes. "GECAS has also been a leader in contributing to the success of the market-leading Boeing 777, which has accumulated 129 orders this year alone, and more than 1,000 orders from 53 different customers since its launch."

To date, 109 customers have placed orders for more than 4,300 Next-Generation 737s. Unfilled orders for the Next-Generation 737 exceed 1,800 airplanes, worth over $130 billion at list prices.

The fuel-efficient 777-300ER is the world's largest long-range twin-engine jetliner, and is capable of carrying 365 passengers up to 7,930 nautical miles. The General Electric GE90-115B, the world's largest and most powerful jet engine, powers the 777-300ER.

GECAS has previously ordered 39 777s, and to date has taken delivery of 18. Boeing has more than 350 unfilled 777 orders, worth about $90 billion at list prices.

The order -- in addition to a five-plane deal announced earlier from aircraft lessor CIT Aerospace -- takes the planemaker's year-to-date tally to a record 1,146 net orders. That handily beats Boeing's previous record of 1,044 orders, set last year... but Boeing still trails European rival Airbus by almost 60 orders.

FMI: www.boeing.com, www.gecas.com

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