Boeing Finalize $1.6 Bln Order For 15 Addl 737 MAX 8s From Turkish Airlines

(RTTNews) - Aerospace and defense giant Boeing Co. (BA) finalized Monday an order for 15 additional 737 MAX 8 aircraft from Turkish flag-carrier Turkish Airlines that is valued at $1.6 billion at list prices. The order is part of the options provided in a deal for 50 737 MAXs finalized in May 2013, which included options for additional twenty-five 737 MAX 8s.

"Today's order represents another component of our continuous growth strategy, with the 737 MAX providing Turkish Airlines with increased flexibility across our ever expanding network. Our strong partnership with Boeing has been a significant factor in Turkish Airlines' success and we look forward to taking delivery of these highly efficient airplanes," said Dr. Ahmet Bolat, chief investment and technology officer of Turkish Airlines.

In May 2013, Turkish Airlines finalized an order for seventy 737 family aircraft that was valued at $6.9 billion at list prices. The order, which is now the largest by value in Turkish Airlines' history, included the purchase of forty 737 MAX 8s, ten 737 MAX 9s and twenty Next-Generation 737-800 airplanes.

Istanbul-based Turkish Airlines currently operates a fleet that includes nearly 100 Boeing airplanes, including more than 85 Next-Generation 737s, and serves more than 254 destinations across 106 countries worldwide. The carrier is currently the world's fifth-largest airline.

Including the current order, Turkish Airlines has more than 100 unfilled orders for Boeing airplanes, which include sixty-five 737 MAXs, more than 25 Next-Generation 737s and 20 777-300ER (Extended Range) airplanes.

"With a fleet of more than 100 Next-Generation 737s, Turkish Airlines has experienced firsthand what the capabilities this family of airplanes has to offer," said Todd Nelp, vice president of European Sales, Boeing Commercial Airplanes.

Chicago, Illinois-based Boeing had revealed in May 2014 that it has breached the 2000 mark for orders for its 737 MAX super-efficient single-aisle airplane from 41 customers worldwide, including from airlines and aircraft leasing companies. The orders are valued at $209 billion at list prices. The company also has commitments for more than 250 additional 737 MAX airplanes.

The company noted that the unprecedented demand for 737 MAX is fueled by air traffic growth and the need for more fuel-efficient airplanes. The aircraft has been quite popular particularly with airplane leasing companies due to its 14 percent more fuel efficiency and lowest operating costs with an eight percent operating cost per seat advantage over tomorrow's competition.

The 737 MAX is a new-engine variant of the world's best selling Boeing 737 airplane and builds on the strengths of Next-Generation 737. The plane incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

In Monday's regular trading session, BA is currently trading at $132.55, up $0.26 or 0.20% on a volume of 0.20 million shares.