International Airlines Group (IAG) Shareholders Approve Boeing 737 Order

Rhea-AI Summary

International Airlines Group (IAG) shareholders approved an order with Boeing for 50 737-8-200 and 737-10 aircraft, along with options for 100 more. This agreement, initially announced in May 2022, will be reflected on Boeing's Orders & Deliveries website in November. The 737-10 can seat up to 230 passengers and covers significant routes, while the 737-8-200 offers higher revenue potential with reduced fuel consumption. These new models feature advanced engines and winglets, improving fuel efficiency by up to 20% compared to older models.

Positive

• Approval of a firm order for 50 new aircraft increases Boeing's order book, boosting potential revenue.
• Options for 100 additional aircraft provide future growth opportunities and flexibility for IAG.
• The 737-10's seating capacity of 230 enhances revenue potential on popular routes.
• The new 737 models are 14% more fuel-efficient than the most efficient Next-Generation 737s.

Negative

• None.

SEATTLE, Oct. 27, 2022 /PRNewswire/ -- International Airlines Group (IAG) has announced that its shareholders approved an agreement with Boeing [NYSE:BA] to order a total of 50 737-8-200s and 737-10s, plus 100 options.

Boeing and IAG announced the agreement that was subject to shareholder approval in May 2022. The firm order for 50 737s will be reflected on Boeing's Orders & Deliveries website in November.

"We welcome today's decision by IAG's shareholders to approve a firm order for 50 737-8-200s and 737-10s, with options for 100 more, and we look forward to working with IAG on reintroducing the 737 in to the Group's fleets," said Ihssane Mounir, Boeing's senior vice president of Commercial Sales and Marketing.

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.

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

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.

Contact
Boeing Media Relations
Media@Boeing.com

View original content:https://www.prnewswire.com/news-releases/international-airlines-group-iag-shareholders-approve-boeing-737-order-301661359.html

SOURCE Boeing

FAQ

What was the recent order approved by IAG involving Boeing (BA)?

IAG shareholders approved an order for 50 Boeing 737-8-200 and 737-10 aircraft, plus options for 100 more.

When will Boeing reflect the new aircraft order on their website?

The order will be reflected on Boeing's Orders & Deliveries website in November.

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

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

How does the new Boeing 737 compare to older models in terms of fuel efficiency?

The new 737 models are, on average, 14% more fuel-efficient than the most efficient Next-Generation 737s.

What are the potential benefits of IAG's new order from Boeing (BA)?

The order could enhance IAG's fleet efficiency, increase revenue potential, and improve fuel economy.