link : Air NZ to Order 8 Boeing 787s in $2.7Bn Deal
Air NZ to Order 8 Boeing 787s in $2.7Bn Deal
Air New Zealand Announces Multi-Billion-Dollar Investment in New Fuel-Efficient Boeing 787-10 Dreamliners
At today's list prices, the agreement represents a value of US $2.7 billion. As is usual with such orders, Air New Zealand has negotiated a significant discount on current list prices and the parties have agreed not to disclose the actual purchase price.
The first of these highly fuel-efficient aircraft will join the Air New Zealand fleet in 2022 and together they will have the potential to save 190,000 tonnes of carbon per year.
Air New Zealand currently operates a fleet of 13 787-9 Dreamliners which Chief Executive Christopher Luxon says have proved to be the perfect aircraft for the airline's Pacific Rim focus.
“The 787-10 is longer and even more fuel efficient. However, the game changer for us has been that by working closely with Boeing, we've ensured the 787-10 will meet our network needs, including the ability to fly missions similar to our current 777-200 fleet.
“This is a hugely important decision for our airline. With the 787-10 offering almost 15 percent more space for customers and cargo than the 787-9, this investment creates the platform for our future strategic direction and opens up new opportunities to grow,” says Mr Luxon.
In addition to the eight firm orders announced today, the agreement includes options to increase the number of aircraft from eight to up to 20. The airline has also negotiated substitution rights that allow a switch from the larger 787-10 aircraft to smaller 787-9s, or a combination of the two models for future fleet and network flexibility. The delivery schedule can also be delayed or accelerated according to market demand.
These new long-haul aircraft will replace Air New Zealand's fleet of eight 777-200 aircraft, which will be phased out by 2025. Combined with GE's GEnx-1B engines, they are expected to be 25 percent more fuel efficient than the aircraft they're replacing.
Mr Luxon signed the letters of intent with Boeing Vice President Commercial Sales and Marketing Asia Pacific Christy Reese and GE Aviation's newly named Vice President of Global Sales and Marketing Jason Tonich at Air New Zealand's headquarters in Auckland today.
Mr Luxon says, “Today's news is incredibly exciting for our business and our customers as we continue to invest in the most innovative, sustainable and comfortable aircraft on the market and deliver on our commitment to grow our business sustainably.
“In connecting New Zealand with the world, we naturally offer a high proportion of long-haul flights, and these state-of-the-art aircraft will ensure we continue to operate one of the world's youngest and most efficient jet fleets.”
Christy Reese, Vice President of Boeing Commercial Sales and Marketing for Asia Pacific says, “We are honoured to extend our deep partnership with Air New Zealand. This is a bold decision by the airline and will help carry forward the ambitions of Air New Zealand for many years to come.
“The 787-10 is the most efficient widebody in operation today with 25 percent better fuel costs per seat than the aircraft it replaces. In addition, the 787-10 has 95 percent commonality with Air New Zealand's existing fleet of 787-9s and will provide the airline with added benefits in terms of capacity and overall operations.”
Jason Tonich, GE Aviation's Vice President of Global Sales and Marketing says, “GE is honoured to be selected to power and support Air New Zealand's new fleet of 787-10 aircraft with our GEnx-1B engines.
“The GEnx engine is the leading engine of choice on the Boeing 787 Dreamliner, with world-class utilisation, reliability and fuel efficiency that will benefit Air New Zealand and its customers,” says Mr Tonich.
Air New Zealand's
The first new aircraft is expected to join the Air New Zealand fleet in late 2022 with the remainder delivered at intervals through to 2027.
This constitutes a major transaction as defined by NZX Listing Rule 5.1, and the letters of intent are contingent upon approval from a simple majority of 51 percent of shareholders. The transaction will be voted on at the airline's Annual Shareholder Meeting in September. As a 52 percent shareholder, the Crown has indicated to Air New Zealand's Board of Directors that the Government will vote in favour of the transaction at that time.
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"This is a hugely important decision for our airline. With the 787-10 offering around 15 percent more space for both customers and cargo than the 787-9, this investment creates the platform for our future strategic direction and opens up new opportunities to grow," said Air New Zealand Chief Executive Officer Christopher Luxon. "The 787-10 is longer and even more fuel efficient. However, the game changer for us has been that by working closely with Boeing, we've ensured the 787-10 will meet our network needs, including the ability to fly missions similar to our current 777-200 fleet."
The 787-10 is the largest member of the super-efficient and passenger-pleasing Dreamliner family. At 224 feet long (68 meters), the 787-10 can serve up to 330 passengers in a standard two-class configuration, about 40 more than the 787-9 airplane. Powered by a suite of new technologies and a revolutionary design, the 787-10 set a new benchmark for fuel efficiency and operating economics when it entered commercial service last year. The airplane allows operators to achieve 25 percent better fuel efficiency per seat compared to the previous airplanes.
"Air New Zealand is one of the world's leading long-haul carriers that has built an amazing network to connect the South Pacific with Asia and the Americas. We are honored that Air New Zealand has chosen to grow its future with the 787-10, the most efficient widebody airplane flying the skies today," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, The Boeing Company. "With the 777 and now the 787-9 and 787-10, Air New Zealand will have an incredible widebody family to serve its passengers and grow its international network in the years ahead."
Air New Zealand was a global launch customer for the 787-9 and today operates 13 of the Dreamliner variant. With another 787-9 on the way and the 787-10 airplanes in the future, the airline's Dreamliner fleet will grow to 22. Air New Zealand's widebody fleet also includes seven 777-300ERs and eight 777-200ERs, which it is progressively replacing with the aircraft order announced today.
As part of its efforts to maintain an efficient and reliable fleet, Air New Zealand utilizes a number of Boeing Global Services solutions, including Airplane Health Management. This digital solution applies analytics to real-time airplane data, providing maintenance data and decision support tools that enable aircraft maintenance teams to increase operational efficiency.
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