Boeing, Jetlines Announce Order for 5 737 MAX 7s

Boeing [NYSE:BA] and Jetlines today announced an order for five 737 MAX 7s as the new Canadian ultra-low cost carrier builds its future fleet. The order, valued at $438 million at current list prices, includes purchase rights for an additional 16 737 MAXs. 

"This agreement with Boeing is a major milestone for Jetlines," said Jim Scott , CEO of Jetlines. "We are thrilled to be partnering with Boeing and look forward to introducing the 737 MAX 7 into our fleet."

The new airline, headquartered in Vancouver, British Columbia , plans to tap into passenger demand by offering low cost airfares on routes that avoid direct competition with other airlines.

"Boeing is proud to partner with Jetlines as it begins a journey to offer low airfares to passengers across Canada ," said Brad McMullen , vice president of North America Sales, Boeing Commercial Airplanes. "The 737 MAX 7 is perfectly suited to the airline's needs, and we appreciate the confidence Jetlines has in the airplane."

The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX 7 will be capable of flying more than 3,800 nautical miles, extending the range over today's 737-700 by approximately 400 nautical miles (741km).

Source: The Boeing Company (NYSE: BA)
Date: Dec 15, 2014