Boeing and State Corporation Rostechnology Finalize Order for Next-Generation 737s

MOSCOW, Oct. 29 /PRNewswire/ -- Boeing (NYSE: BA) and the State Corporation Rostechnology today announced the finalization of an order for 50 Next-Generation 737 airplanes. The order includes purchase rights for an additional 35 Next-Generation 737s. The State Corporation's Supervisory Board approved the definitive agreement that was signed and announced on Sept. 17 during the Sochi Investment Forum in Russia. The order is valued at $3.7 billion at average list prices. Rostechnology's order includes 15 Next-Generation 737-700s, 25 737-800s and 10 737-900ERs (extended range).

"The order of Next-Generation 737s by Rostechnology represents a substantial investment in our future and will accelerate the significant progress we are making in improving the global competitiveness and efficiency of our airline industry," said Roman Pakhomov, chief executive officer of Aviation Capital Services, aviation leasing division of Rostechnology. "This agreement continues to build upon the strategic partnership between Rostechnology and Boeing."

The economic benefits, comfort and operating efficiencies consistently demonstrated by the Next-Generation 737 directly support Rostechnology's plan to provide Russian airlines with efficient and reliable airplanes that will help them profitably grow domestic and international operations.

"This is a great day in the history of our long and enduring partnership with Rostechnology," said Marlin Dailey, vice president of Sales, Boeing Commercial Airplanes. "Today's order for 737-700s, 737-800s and 737-900ERs underscores Rostechnology's confidence in the world's most successful single-aisle airplane. The entire Next-Generation 737 family offers superior operating economics and the 737-900ER has the best seat mile cost of any single-aisle airplane and provides our Next-Generation 737 customers with a compelling low-risk growth opportunity."

Rostechnology 737s will be delivered with the all-new 737 Boeing Sky Interior. Inspired by the passenger experience, it promises to redefine the 737 travel experience. In addition to the new design, Boeing also announced a performance improvement package offering a 2 percent reduction in fuel consumption through various airframe and engine improvements.

Over the past 20 years, Boeing's joint programs in Russia have resulted in almost $6 billion in highly successful joint projects with its Russian partners making Boeing the largest international aerospace investor in Russia.

Boeing announced in September that its production rate for the Next-Generation 737 program will increase from the current rate of 31.5 airplanes per month to 35 in early 2012 and to 38 airplanes per month in the second quarter of 2013.

Source: BOEING

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