Azerbaijan Airlines to Expand its Boeing 787 Dreamliner Fleet, Signs Memorandum of Understanding to Purchase Four More Airplanes

Rhea-AI Summary

Boeing (NYSE: BA) and Azerbaijan Airlines have signed a Memorandum of Understanding (MoU) for four additional 787-8 Dreamliners at the Farnborough Airshow. This agreement expands Azerbaijan Airlines' fleet to 10 by 2030, aimed at enhancing its route network in Central Asia. The 787-8 is known for its fuel efficiency, reducing fuel use and emissions by 20-25% compared to older models. CEO Stan Deal emphasized the partnership's focus on meeting the growing demand for long-haul travel. Azerbaijan Airlines currently operates two 787-8s and a diverse fleet of other aircraft.

Positive

• Boeing secures an MoU for four additional 787-8s, enhancing future revenue potential.
• Azerbaijan Airlines plans to grow its fleet to 10 Dreamliners by 2030, indicating strong market demand.
• The 787-8's fuel efficiency (20-25% reduction in fuel use) positions both companies favorably in a competitive market.

Negative

• None.

FARNBOROUGH, United Kingdom, July 20, 2022 /PRNewswire/ -- Boeing (NYSE: BA) and Azerbaijan Airlines today signed a Memorandum of Understanding (MoU) for four additional fuel-efficient 787-8s at the Farnborough International Airshow. The Azerbaijan flag-carrier currently operates two 787-8s, with today's announcement the airline intends to grow its Dreamliner fleet to 10 by 2030, enabling it to open new routes across Central Asia.

"Azerbaijan Airlines was the first airline in the Caspian and Central Asia region to operate the 787-8 Dreamliner and we currently have two 787-8s in-service. This MoU is the evidence of joint efforts to scale up the mutually beneficial partnership between Azerbaijan Airlines and Boeing," said Jahangir Asgarov, president of Azerbaijan Airlines. "Over the years, our 787 airplanes have provided impeccable performance, and the addition of more long-haul airplanes will further expand the geography of Azerbaijan Airlines' route network."

The 787-8 reduces fuel use and emissions by 20-25% compared to the airplanes it replaces, and the jetliner's range can reach up to 13,530 km in a typical two-class configuration. The 787 family's fuel efficiency, flexibility and range have enabled carriers worldwide, like Azerbaijan Airlines, to open more than 300 new nonstop routes. Built with lightweight composite materials and powered by advanced engines, the 787 family has an airport-noise footprint that is 60% smaller than the previous generation of airplanes.

"Today's agreement extends our long-term partnership with Azerbaijan Airlines as they renew their fleet to capitalize on the growing long-term travel demand that we are seeing globally," said Stan Deal, President and CEO of Boeing Commercial Airplanes. "The global in-service 787 fleet has been the most-utilized widebody during the market downturn and we are confident in the proven performance capabilities of this airplane."

One of the largest carriers in the Caspian region and Central Asia, Baku-based Azerbaijan Airlines currently operates two 787-8 Dreamliners as well as a fleet of 757, 767 and 777 airplanes.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. The company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.

Contacts

Elena Alexandrova
Boeing Communications
+7 985 774 63 28
elena.alexandrova@boeing.com

Evgeniia Teterina
Boeing Communications
+7 967 033 53 50
evgeniia.teterina@boeing.com

Pasha Kesamanski
Azerbaijan Airlines Communications
+994 50 334 81 11
pkesamanski@azal.az 

 

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SOURCE Boeing

FAQ

What did Boeing and Azerbaijan Airlines announce on July 20, 2022?

They announced a Memorandum of Understanding for four additional 787-8 Dreamliners.

How many Dreamliners will Azerbaijan Airlines have by 2030?

Azerbaijan Airlines aims to have a total of 10 Dreamliners by 2030.

What is the fuel efficiency of the 787-8 compared to older models?

The 787-8 reduces fuel use and emissions by 20-25% compared to previous airplanes.

What is significant about the 787 family's performance mentioned in the press release?

The 787 family's fuel efficiency has enabled the opening of over 300 new nonstop routes globally.

What does the MoU with Azerbaijan Airlines signify for Boeing?

It signifies an extension of their long-term partnership and adaptation to increasing long-term travel demand.