ISRAEL: EL AL and Boeing Sign For Purchase and Lease Of 15 Dreamliners

The President/CEO of Boeing Commercial Airplanes, Ray Connor, joined EL AL President/CEO, David Maimon, at a signing ceremony for the purchase of nine new 787-800 and 787-900 Dreamliner aircraft. The festive ceremony took place at an EL AL hangar at Ben-Gurion Airport in the presence of Israel’s Minister of Transportation, Mr. Yisrael Katz.

At the same time, EL AL will lease another six aircraft from leasing companies, bringing the total number of Dreamliner’s to 15. EL AL has also been granted an option to purchase 13 additional Dreamliner aircraft. The estimated value of the purchase of these planes is valued at approximately $1.25 billion. This fleet renewal is to begin in the third quarter of 2017.

Maimon stated: "Today I am proud to complete the purchase agreement as part of the largest renewal plan in EL AL's history. These aircraft will replace the 747-400 and 767 aircraft on EL AL's medium and long-range destinations. The Dreamliner, the most innovative and advanced aircraft in the world, affords a quality passenger experience, with many operational advantages including fuel efficiency and low maintenance costs.

"I am certain that this step constitutes a major opportunity to uphold the high standards expected of us and to continue to offer our customers maximum comfort, technological innovation, advanced aircraft and quality service as well as to promote EL AL's renewal impetus".

Conner added: "We are proud of EL AL's choice of Boeing aircraft as part of its decision to renew its fleet. The 787 planes are perfectly suited to EL AL's long and medium-range routes. These planes will improve the airline’s performance as well as passenger comfort and flight experience and we look forward to continued cooperation with EL AL, a cooperation which has already spanned half a century".

Katz: "This is a festive day for EL AL. I am pleased that as Minister of Transportation I led the important Open Skies Policy reform and the very fact that today these words have a positive connotation says it all. EL AL adapted itself to the competition and today we can see that the airline is flourishing. The airline’s low cost flights also demonstrate that this is an airline that does its homework and competes. And everyone benefits - the citizens and the airline. This is the correct economic formula and therefore it does not threaten you. You may fly in the air but your feet are on solid ground".