Boeing (NYSE: BA) and Okay Airways announced an order today for six 737 MAX 8s and four Next-Generation 737-800s, valued at $980 million at current list prices.
Okay Airways, the first privately owned airline in China, also announced it will convert five 737-800s from a previous order into 737-900ERs (Extended Range). With today's conversion announcement, Okay Airways will be the first airline in China to operate the 737-900ER and has eight of the airplanes on order.
"The 737 is the backbone of our fleet and has fueled our growth with its proven reliability and efficiency," said Liu Weining, president, Okay Airways. "The addition of the new 737 MAX airplanes will help us explore new regional markets while strengthening our existing domestic routes."
"We are honored to partner with Okay Airways once again, as the airline continues to modernize its fleet with Boeing's 737 airplane family," said John Wojick, senior vice president of Global Sales and Marketing, Boeing Commercial Airplanes. "The combination of Next-Generation 737-800s and 737 MAX 8 airplanes is a perfect fit for Okay Airways and will provide its fleet with market-leading efficiency, reliability and passenger comfort for many years to come."
Okay Airways is headquartered in Beijing with its main hub at Tianjin Binhai International Airport. Its jetliner fleet includes 12 Boeing 737-800s and one Boeing 737-300 Freighter, which serves 40 domestic destinations.
The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX 8 is 2.2 meters longer, providing customers with more flexibility and cost efficiency than the A320neo in the heart of the single-aisle market. Airlines operating the 737 MAX 8 will see an 8 percent operating cost per seat advantage over the A320neo. The 737 MAX has surpassed 2,000 orders from 42 customers worldwide, the most successful launch in Boeing history.
The 737-800 is the best-selling version of the highly successful Next-Generation 737 family, the most technologically advanced airplanes in the single-aisle market. The 737-900ER complements the 737-800s that many Next-Generation 737 customers already have in their fleets by providing 31 additional seats for more incremental revenue opportunity.
Source: The Boeing Company (NYSE: BA)
Date: Jul 14, 2014