Boeing announces deals with carriers, invests in sustainable Brazilian fuel

Boeing announced a bevy of deals at the Paris Air Show, including a contracts with Korean Air and Air Lease Corporation as it was announced at the Paris Air Show that the airline plans to add 30 new 787 Dreamliner airplanes to its fleet.

Jun 19th, 2019
Kal Hires (1)
Boeing

PARIS - Boeing announced a bevy of deals at the Paris Air Show, including a contracts with Korean Air and Air Lease Corporation as it was announced at the Paris Air Show that the airline plans to add 30 new 787 Dreamliner airplanes to its fleet, with a commitment to purchase 10 new 787-10s and 10 additional 787-9 airplanes valued at $6.3 billion at current list prices. As part of this agreement, Korean Air will also lease 10 787-10s from ALC.

The airline, one of the largest transpacific carriers in Asia with 16 non-stop routes to North America, will introduce the larger 787-10 to complement its long-haul fleet of 787-9 and 777 airplanes. This order will be reflected on Boeing's Orders and Deliveries website once it is finalized.

With this order, Korea's flag carrier will quadruple its 787 fleet to 40 airplanes as it looks to strengthen its long-haul fleet.

"Today's announcement demonstrates the strength of our enduring partnership with Korean Air. The airline has been a pioneer in Asia's commercial aviation industry over the past five decades and Boeing is honored to play an important role in their continued success," said Kevin McAllister, president and chief executive officer, Boeing Commercial Airplanes.

Korean Air operates a fleet of 96 Boeing passenger airplanes, including the Next-Generation 737, 747, 777 and 787 airplanes. The airline also operates an all-Boeing cargo fleet with the 747-400, 747-8 and 777 Freighters.

In addition, Boeing and ALC announced another commitment during the Paris Air Show to purchase five 787-9 Dreamliners, valued at $1.5 billion at list prices.

"Demand for reliable, versatile, and fuel-efficient airplanes is at an all-time high," said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. "These five Boeing 787-9 aircraft are required by our airline customers to satisfy strong ALC lease placements of the 787."

Boeing also announced at Le Bourget a USD $1 million investment in Brazil’s efforts to establish a sustainable aviation fuel industry. The investment will focus on initiatives that maximize social, economic and environmental benefits to local communities engaged in the development of feedstock that can be used to produce sustainable aviation fuel (SAF). In 2018, the company provided an additional USD 1 million to the industry’s efforts in Brazil.

“Brazil is a biofuel powerhouse and we believe this leadership can translate into benefits for small farmers and communities at the forefront of the multi-feedstock supply chain supporting biojet fuel production in the country,” said Marc Allen, senior vice president of Boeing and president of Embraer Partnership & Group Operations.

Boeing will collaborate with long-time partners World Wide Fund for Nature and the Roundtable on Sustainable Biomaterials (RSB) to identify small communities of farmers in Brazil with the most promising potential to provide biomass for SAF production. The producers will then be certified using sustainability indicators that drive social benefits such as income generation, solid labor practices and food security. Groups of small farmers that produce sugarcane and macaúba oil in southeast Brazil have already been certified by RSB in recent years, with Boeing’s financial support.

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