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Chinese Airlines Agree to Dreamliner Purchase

04 February 2005

The Boeing Company and officials from the Peoples' Republic of China today signed a preliminary agreement for the purchase of 60 Boeing 787 Dreamliners by Chinese airlines.

The agreement, which will be finalized at a later date, is valued at approximately US$7.2 billion, based on average list prices.

The airplanes will be delivered to six Chinese carriers - Air China, China Eastern Airlines, China Southern Airlines, Hainan Airlines, Shanghai Airlines and Xiamen Airlines. Each carrier is scheduled to receive its first 787 in time for the 2008 Beijing Olympics.

Concurrent with the announcement, the 787 was formally designated the Boeing 787 Dreamliner - continuing the long and successful line of Boeing ""7-series"" airplanes.

""The 787 is the perfect airplane to welcome the world to China during the 2008 Beijing Olympics. It will be the most technologically advanced commercial airplane in the world with more amenities to offer our passengers, and fuel efficiency that is only surpassed by its revenue potential,"" said Li Hai, president -- China Aviation Supply Company, at a signing ceremony in Washington, D.C., hosted by Assistant Secretary of Commerce, Al Frink. ""The 787 is a good reflection of what China offers -- world-class facilities, exemplary service, and unmatched return on investment,"" Li said.

""The momentum behind the 787 continues to build,"" said Alan Mulally, president and CEO of Boeing Commercial Airplanes. ""We're honored to have these key Chinese airlines choose the 787 and join our launch team. The 787's advantages in efficiency, economics, environmental performance and passenger comfort are perfectly matched for China 's growing, world-class aviation system.""

As members of the 787 launch customer team, the six Chinese carriers will be critical partners in developing the 787 family of airplanes.

The 787 was launched in April of last year with an order of 50 airplanes from Japan 's ANA (All Nippon Airways). Air New Zealand, First Choice Airways, Blue Panorama, Primaris Airlines, Japan Airlines, Continental Airlines, and Vietnam Airlines also are among the 787's 14 announced customers. Today's agreement brings the total number of announced orders and commitments for the 787 to 186 airplanes.

Production of the 787 will begin in 2006. First flight is expected in 2007 with certification, delivery and entry into service in 2008.