SEATTLE, Boeing (NYSE: BA) and leasing company BOC Aviation today announced an order for eight 777-300ERs (extended range) valued at approximately $2.2 billion at average list prices.
BOC Aviation will lease the new airplanes to Thai Airways International (THAI), Thailand’s flagship carrier.
“Boeing 777-300ER airplanes have proven their reliability and enabled airlines the world over to profitably operate long-haul routes,” said Robert Martin, managing director and chief executive officer of BOC Aviation. “BOC Aviation has helped reinforce fleets for clients worldwide with Boeing airplanes that make economic sense.”
The economics and high dispatch reliability of the 777-300ER are expected to dramatically improve THAI’s profitability on new and existing long-haul routes.
“The new 777-300ERs will enhance our fleet modernization initiative and help us expand to new markets in Europe,” said President of Thai Airways International Mr. Piyasvasti Amranand.
THAI currently operates nearly every 777 model produced, including the 777-200, 777-200ER, 777-300 and 777-300ER. In addition, THAI Cargo became the first carrier in Southeast Asia to utilize the 777 Freighter through an agreement with Southern Air Holdings early this year.
“Over the years, BOC Aviation and Boeing have worked together to provide the world’s airlines with reliable airplanes that provide superior operational efficiency,” said Marlin Dailey, vice president of Sales & Marketing for Boeing Commercial Airplanes. “These additional Boeing 777-300ERs support THAI’s commitment to expanding market presence while delivering profitable growth.”
About BOC Aviation
Headquartered in Singapore, BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio today of 163 modern aircraft operated by airlines worldwide. Including today’s announcement, the company has 13 widebody aircraft on firm order and another four on committed purchase and leaseback for delivery through to 2013. BOC Aviation has one of the youngest fleets in the industry with an average aircraft age of less than four years.
About Thai Airways International
Thai Airways International was founded in 1960 as a joint venture between Thailand’s domestic carrier, Thai Airways Company (TAC) and Scandinavian Airlines System (SAS). It is the national carrier of the Kingdom of Thailand and operates domestic, regional and intercontinental flights radiating from its home base in Bangkok to key destinations around the world and within Thailand. Thai Airways International also is a Star Alliance Member.