International Airlines Group Finalizes Agreement for Up to 150 737 Jets

Rhea-AI Summary

Boeing (NYSE: BA) and International Airlines Group (IAG) have finalized an order for up to 150 aircraft, including 50 737-8-200s and 737-10s, plus 100 options. This order is part of IAG's short-haul fleet renewal strategy, focusing on sustainability and efficiency to achieve net zero carbon emissions by 2050. The new models promise increased seating capacity and reduced fuel consumption, supporting IAG’s network recovery and growth. The deal follows a commitment made by IAG at the 2019 Paris Air Show and requires shareholder approval.

Positive

• Order for 50 737-8-200s and 737-10s enhances IAG's fleet.
• New aircraft models improve fuel efficiency by an average of 14% compared to previous models.
• Increased revenue potential with seating configurations of up to 200-230 passengers.

Negative

• None.

SEATTLE, May 19, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and International Airlines Group (IAG) today announced an order for a combined total of 50 737-8-200s and 737-10s, plus 100 options.

"The addition of new Boeing 737s is an important part of IAG´s short-haul fleet renewal. These latest generation aircraft are more fuel efficient than those they will replace and in line with our commitment to achieving net zero carbon emissions by 2050," said Luis Gallego, IAG´s chief executive.

The 737-8-200 will enable IAG to configure the airplane with up to 200 seats, increasing revenue potential and reducing fuel consumption.

The largest model in the family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 miles. The fuel-efficient jet can cover 99% of single-aisle routes, including routes served by 757s.

"With the selection of the 737-8-200 and larger 737-10, IAG has invested in a sustainable and profitable future, as both variants will significantly lower operating costs and CO₂ emissions," said Stan Deal, president and CEO of Boeing Commercial Airplanes. "Today's agreement for up to 150 airplanes, including 100 options, is a welcome addition of the 737 to IAG´s short-haul fleets and reflects our commitment to support the Group's continued network recovery and future growth with Boeing's unrivalled family of airplanes."

The 737 incorporates the latest-technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 family of airplanes is on average 14% more fuel-efficient than today's most efficient Next-Generation 737s and 20% more efficient than the original Next-Generation 737s when they entered service.

Today's announcement finalizes a commitment made by IAG for the 737 at the 2019 Paris Air Show and is subject to approval by IAG shareholders.

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. As a top U.S. exporter, 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.

Contact
Keelan Morris
Boeing Communications (London)
Mobile + 44(0)208 235 5664
keelan.j.morris@boeing.com

 

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SOURCE Boeing

FAQ

What is Boeing's latest order with IAG?

Boeing and IAG have finalized an order for up to 150 aircraft, including 50 737-8-200s and 737-10s.

How does the new Boeing aircraft order impact fuel efficiency?

The new 737 models offer an average fuel efficiency improvement of 14% over existing models.

What are the seating capacities of the new Boeing 737 models for IAG?

The 737-8-200 can be configured with up to 200 seats, while the 737-10 accommodates up to 230 passengers.

When was the agreement for Boeing's new aircraft finalized?

The agreement was finalized on May 19, 2022.

How many options did IAG include in the Boeing order?

IAG included 100 options in the order for Boeing's 737 aircraft.

Is the Boeing and IAG agreement subject to any approvals?

Yes, the agreement is subject to approval by IAG shareholders.