Ethiopian Airlines Increases 787 Dreamliner Order by Five Airplanes

PR Newswire ^ | May 31, 2005

[Righty_McRight]

- Airline Is First to Exercise 787 Purchase Rights - Signs Contract for 10 Boeing 787s

ADDIS ABABA, Ethiopia, May 31 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA - News) and Ethiopian Airlines today said the airline has increased its firm orders for the 787 Dreamliner to 10 airplanes by exercising purchase rights obtained with its initial order announced Feb 4. The airline is the first 787 customer to exercise purchase rights or options for the rapidly selling new Boeing jetliner.

Ethiopian Airlines and Boeing also said they have completed the contract for the airline's 10 Dreamliners, valued at US$1.6 billion at list prices.

"Having been the first to bring jet service to the African continent, Ethiopian Airlines is excited to once again be the first by launching operations in Africa with this revolutionary airplane," Ethiopian Airlines CEO Ato Girma Wake said. "The 787, represents the future-one in which Ethiopian Airlines will play a major part-and we view this airplane to be a cutting-edge solution to bolster our passenger service, improve our efficiencies and add to the airline's bottom line."

Ethiopian Airlines moved quickly to secure its five additional delivery positions for the 787 following a series of recent order announcements for the airplane, which is essentially sold out for its first three years of production. Its first 787 is scheduled for delivery to its Addis Ababa home base in 2008.

"The market appeal for the 787 continues to grow," said Alan Mulally, president and CEO of Boeing Commercial Airplanes. "We're proud to strengthen our long-standing partnership with Ethiopian Airlines through the 787, which will help airlines all over the world operate profitably while flying people directly where they want to go, with exceptional comfort and with unmatched economic efficiency."

Ethiopian Airlines will be the first Africa-based operator of the technologically advanced and rapidly selling jet and one of the first anywhere to receive the Dreamliner.

Developed as an entirely new airplane and incorporating composite technology that lends to operating efficiencies and performance characteristics exceeding conventional airframes, Boeing's 787 continues to gain ground with airlines worldwide.

Boeing now has 266 orders and commitments from 21 customers for the 787. The Ethiopian Airlines order will be booked on Boeing's Orders and Deliveries Web site pending final documentation of U.S. Ex-Im Bank guarantees.

Boeing's partnership with Ethiopian Airlines dates back some 50 years. Today, it operates an all-Boeing fleet of 737 and 767 airplanes.

Photo(s) and caption(s) are available with this release on http://boeingmedia.com .

-------------------------------------------------------------------------------- Source: Boeing Co.

[blackdog]

I could see Ethiopia needing the jumbo liners for departing flights. It's the inbounds that I'd think would be operating at a loss................

[Righty_McRight]

Ethiopian Airlines moved quickly to secure its five additional delivery positions for the 787 following a series of recent order announcements for the airplane, which is essentially sold out for its first three years of production.

Now that is the part that might give the Airbus a350 some life.

[ConservativeStatement]

Boeing's 1-year stock chart:

http://www.marketwatch.com/tools/quotes/intchart.asp?symb=ba&sid=874&siteid=mktw

[LostDog]

Thanks for the skinny on the situation.

[mhx]

In the meantime in Zimbabwe they're operating flights with a single passenger.

[1FASTGLOCK45]

blackdog wrote:

I could see Ethiopia needing the jumbo liners for departing flights. It's the inbounds that I'd think would be operating at a loss................

--Yup, that's standard operating procedure for any third world country, more peeps go out than come back. :P

[1FASTGLOCK45]

mhx wrote:
In the meantime in Zimbabwe they're operating flights with a single passenger.

-->If i had the money, I'd have my own dreamliner and be the only passenger too, or get a chance to take it for a spin

[em2vn]

Did the Dreamliner name come from a Ford auto of the 1950s? I know there was a Skyliner, a hard top convertible I believe.

[Righty_McRight]

Looks like an RV from the 70's.

http://usedmotorhome.com/xq/asp.Public_Details/type.Class+C/id.8011/used+Dreamer+Dreamliner+Class+C.htm#p

[brooklin]

Ping

[Paleo Conservative]

Ping!

If you want on or off my aerospace ping list, please contact me by Freep mail not by posting to this thread.

[pissant]

More good news for the Big B (the company, not the Freeper)!

[patton]

yes, but imagine the in-flight meals - all that food I told my mother to mail to Ethiopia...

[cyborg]

That's good. My boss has a house there and goes back and forth doing business. I would love to visit there and get to know the culture.

[Larry Lucido]

I think Starvin Marvin might need a ride home on one.

[redfreedom]

I remember riding on Ethiopian Airlines as USASA troop in the late 60's. Outstandingly good looking Ehiopian stews!

[cyborg]

Very spicey food.

[blackdog]

Get to know the culture of Ethiopia? Maybe a thousand years ago.....sure. The only thing to know about their culture today is that they live on arrid land on the large part and the population has been systematically culled as a means of control for a hundred years now.

I hope your boss's home has 20 foot high surrounding walls and is called a compound.

[Central Scrutiniser]

I eat Ethiopian/Eritrean food all the time, its fantastic. Especially the injera bread that you use to wrap the stews (Doro Wat or Lentils or collard greens and potatos). Eat with your hands, tasty stuff, complex spice.