Boeing, Chinese Carriers Finalize Orders for Next-Generation

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PanAmerican Captain

Sorry for the delay of this post, but I've been very busy.

SEATTLE, Sept. 14, 2006 -- The Boeing Company [NYSE: BA] today confirmed Hainan Airlines' order for 15 Boeing Next-Generation 737 airplanes, completing a 150-airplane order by the China Aviation Supplies Import and Export Group.

Air China, China Eastern Airlines, China Southern Airlines, Shandong Airlines, Shanghai Airlines, Shenzhen Airlines and Xiamen Airlines earlier this year placed orders for 65 Boeing Next-Generation 737s that were identified on Boeing's Orders and Deliveries Web site in August.

China Aviation Supplies Import and Export Group originally announced its intentions to order 150 airplanes in November 2005. The first 50 of those Next-Generation 737 airplanes were booked in December 2005 with an additional 20 booked in January 2006.

The orders signed between the eight carriers and Boeing are valued at about $10 billion, based on average list prices. These airplanes are scheduled for delivery between 2006 and 2010.

The 737 is ideally suited for the Chinese market and represents a large portion of the country's fleet. Of the 529 Boeing airplanes in China's fleet, 394 are 737 family aircraft, comprising 41 percent of China's total fleet.

"It is gratifying to partner with Chinese airlines in their quest to achieve profitability and to provide their passengers with reliable, comfortable service," said Rob Laird, vice president, China Sales - Boeing Commercial Airplanes. "The 737, especially the Next-Generation 737, has played an integral role in Chinese aviation."

The Next-Generation 737s fly higher, faster and farther than comparable airplanes, while offering greater fuel efficiency. The 737 is the world's best-selling commercial jet airplane, with more than 6,500 ordered by 236 customers. As of Aug. 31, 2006, 100 customers have placed orders for more than 3,300 Next-Generation 737s; the program has 1,360 unfilled orders with a value of about $91 billion at current list prices.

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