Boeing, Aviation Capital Group Announce Order for 20 Airplanes

Boeing [NYSE: BA] and Aviation Capital Group (ACG) today announced that the leasing company has placed an order for 15 Next-Generation 737s and five 787 Dreamliners.

The order, worth approximately $1.6 billion at list prices, was previously attributed to an unidentified customer on the Boeing Orders and Deliveries Web site.

“We are delighted to add the Boeing 787 Dreamliner to our portfolio. This aircraft represents a significant step forward for mid-size widebody aircraft,” said R. Stephen Hannahs, group managing director and chief executive officer of ACG. “Of course, the Next-Generation 737 continues to be an outstanding performer for airlines and is an excellent leasing asset.”

ACG’s current fleet contains 138 Boeing aircraft, which includes Next-Generation 737s, 737 Classics, 757s and 767s.

With today’s announcement, ACG has a backlog of 52 Boeing airplanes on order. In December 2006, ACG announced that it had acquired delivery positions for 15 Next-Generation 737s from Delta Air Lines. In July 2006, ACG placed an order for 14 Next-Generation 737s and announced that it had agreed to acquire six additional Next-Generation 737s from Aeromexico, with a simultaneous agreement to lease the aircraft back to the airline.

“Boeing is proud of its partnership with ACG and the important role the Next-Generation 737 has played in its growing fleet size and market presence,” said John Feren, vice president of Sales – Leasing and Asset Management, Boeing Commercial Airplanes. “With today’s endorsement of the 787 Dreamliner, ACG is significantly expanding its widebody fleet, bringing its airline customers breakthrough technology, best-in-class fuel efficiency and lower operating costs.”