Boeing Agreement with LCAL Expands Exclusive 787 Dreamliner Fleet

Boeing [NYSE: BA] and LCAL today announced the leasing company placed an order for one additional 787-9 Dreamliner, expanding its fleet to 15 of the advanced-technology aircraft.

The deal is worth $183 million at list prices. This order was allocated to an unidentified customer on Boeing’s Orders and Deliveries website in 2006.

LCAL established itself in 2005 as an aircraft leasing company providing lease services exclusively with the 787 Dreamliner. The company was the first leasing company to order 787s, making a commitment to purchase six 787-8s in May 2005, remaining unidentified until November of the same year.

At the end of 2005, LCAL ordered an additional eight 787s worth another $1.2 billion at list prices. The second order was for the 787-9, establishing LCAL as the first leasing customer for this variant.

“This latest addition to our fleet is further confirmation of our unwavering confidence in the 787 program,” said Clive Joy, chairman and founder of LCAL.

“The technological benefits that the 787 brings will set the new standard in operator and passenger preference for decades to come, while taking a significant step to address the environmental issue,” said LCAL Chief Operating Officer and President Steve Clarke.

“Today’s commitment by LCAL reinforces the remarkable market success of the Boeing 787 among a wide variety of customers and business models,” said John Feren, vice president of Sales - Leasing and Asset Management, Boeing Commercial Airplanes. “With its dedicated and growing Dreamliner fleet, LCAL is offering its airline customers exclusively an airplane that delivers breakthrough technology, best-in-class fuel efficiency and lower operating costs.”

LCAL has selected Rolls-Royce’s Trent 1000 engine for a number of its 787s, and is negotiating with GE to equip some of its fleet with GEnx engines.

The technologically advanced 787 Dreamliner will use 20 percent less fuel than today’s airplanes of comparable size, provide airlines with up to 45 percent more cargo revenue capacity, and will present passengers with innovations including a new interior environment with higher humidity, wider seats and aisles, larger windows and other conveniences. The Dreamliner will allow airlines to offer more of the comfortable point-to-point travel that passengers want.

Since the 787’s launch in April 2004, 39 customers have booked 491 orders, making it one of the fastest-selling commercial airplanes in aviation history.

Additional information about LCAL is available at www.lcal.com.