Boeing, Air Lease Corporation Announce Order for 10 777-300ERs

Leasing company expands fleet of long-haul airplanes

SEATTLE, Feb. 28, 2013 /PRNewswire/ -- Boeing (NYSE: BA) and Air Lease Corporation (ALC) announced an order today for 10 777-300ERs (extended range) airplanes. The order, valued at $3.2 billion at current list prices, adds to the growing portfolio of long-haul airplanes for the Los Angeles-based leasing company.

"This order for 777-300ERs will help us meet the growing airline demand for long-haul passenger airplanes," said John L. Plueger, president and chief operating officer of Air Lease Corporation. "These 777-300ERs will enable our customers to grow and modernize their fleets. The 777 offers our clients the most economical, fuel-efficient and versatile airplane in the 300-400 seat range, suitable for a variety of profitable missions."

"Air Lease Corporation has established itself as a leader in the leasing industry by assembling a diverse fleet of modern, economical and fuel efficient airplanes," said John Wojick, senior vice president of Global Sales for Boeing Commercial Airplanes. "With the 777-300ER order, ALC continues to demonstrate confidence in the airplane and the value it provides to its customers."

ALC has ordered 185 airplanes from Boeing including 78 Next-Generation 737s, 80 737 MAXs, 12 787 Dreamliners and 15 777-300ERs. The leasing company also has reconfirmation rights on 20 additional 737 MAX airplanes.

The Boeing 777 is the world's most successful twin-engine, long-haul airplane. The 777-300ER extends the 777 family's span of capabilities, bringing twin-engine efficiency and reliability to the long-range market. The airplane carries 386 passengers up to 7,825 nautical miles (14,490 km). The 777-300ERs are equipped with GE90-115B engines, the world's most powerful commercial jet engine. 1,072 777s have been delivered through the end of January and a total of 1,441 have been ordered from 66 customers around the globe