Airline places order for two 777-200ERs with option for one additional airplane and orders four Next-Generation 737-700s with two options
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SEATTLE , July 18, 2005 -- The Boeing Company [NYSE: BA] and TAAG Angola Airlines today said they've reached a definitive agreement for the purchase of two 777-200ER and four 737-700 airplanes. The firm airplane order has a catalogue list value of $649.6 million and is valued at approximately $990 million with options. The first 777-200ER is scheduled for delivery in July of 2006, when the first new 737-700 will also join the fleet. The remaining airplanes on order will be delivered in 2006.
"What we witness in Angola is a country emerging from a very tumultuous period in its history," said J. Miguel Santos, Boeing Commercial Airplanes' director International Sales.
"Boeing is proud to be the manufacturer of choice for TAAG and to be part of Angola 's future growth and development. Our work in Angola , in partnership with TAAG, will help establish a successful all-Boeing airline, driving self-sustained economic development that's integrated on a national level."
TAAG's Chairman Eng. Mateus Neto commented on how partnering with Boeing brings added value to the airline.
"We were convinced that Boeing offered the best and most reliable airplanes to meet our fleet renewal requirements. Still, their willingness to operate as part of our team and participate directly in our national carrier's success, with an eye on the country's economic development, in general, is what sets Boeing apart in the commercial aviation field."
Mr Neto also stated that TAAG's order is intended to fully replace the current fleet of two 747-300s and five 737-200s.
Lee Monson, Commercial Airplane's vice president of Sales for the Middle East and Africa, discussed how bringing TAAG's fleet up to date required a great deal of close cooperation between the airline and Boeing.
"It's always rewarding to see the Boeing team working in tandem with our clients, as exemplified by our joint effort with TAAG to engage the appropriate regulatory agencies to obtain ICAO Category One status for Angola's Regulatory Authority, the INAVIC."
Mr. Monson also described how Boeing will provide its airport technologies team to consult with the national airport authorities of Angola, ENANA, to determine how best to improve the domestic airport's infrastructure.
Boeing's 777 family includes the world's most advanced wide-body aircraft, and the 777 is the only airplane to receive ETOPS (extended-range, twin-engine operations) certification upon first entering service. Thirty-eight airlines have placed firm orders for 693 Boeing 777s, making it the fastest selling twin-aisle airplane in history, far outselling its closest competitor despite entering service two years later.
TAAG's new 777s will be configured to carry 263 passengers and 20 tonnes of cargo while burning less fuel and needing less maintenance than the competition. Fuel burn is 36 percent less per seat than the older model 747s and maintenance cost are 61 percent lower, further enhancing TAAG's operating efficiency.
The Boeing Next-Generation 737 is unmatched by any competitive airplane in its class. Designed ten years after the competing Airbus A320, and boasting one of the highest daily utilization rates in the industry, the Next-Generation 737 flies higher, farther and more efficiently than its competitor. To date, 86 airlines have placed orders for more than 2,700 Next-Generation 737s. Overall, the 737 is the world's best-selling commercial jet airplane family, with more than 5,800 ordered by 223 customers.
The 737-700's cargo and passenger versatility will allow TAAG to effectively serve all its domestic and regional destinations with unmatched efficiency and reliability due to a 28 percent fuel consumption drop per seat and 52 percent lower maintenance costs than the 737-200s now approaching retirement.
While providing the world's best airplanes to its customers, Boeing's long-established market dominance in Africa is based on its history of setting the standard for meeting industrial participation agreements, initiating joint ventures and actively pursuing a strategy to build and assist in the growth of Africa's aviation sector.
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Contacts:
Brian Walker, (206) 766-2929
Chuck Cadena, (425) 956-9378
Sandy Angers, (425) 965-9380
