El Al Flies Closer to Buying New 787 Dreamliner Fleet

New planes are earmarked for medium- and long-distance flights, including New York, Boston, Toronto and South Africa.

Reuters

El Al is in advanced negotiations with Boeing and a number of aircraft leasing companies for the purchase of 15 Boeing 787-8 and 787-9 Dreamliner airliners, the world’s most advanced aircraft. The deal will include the option of purchasing 13 additional aircraft and spare engines.

The new aircraft will be gradually introduced into service, replacing older Boeing 747-400 and 767-300ER models. Delivery of the planes is planned for between 2017 and 2020.

El Al estimates the cost of the deal at $800 - $900 million, on the assumption that half of the planes will be purchased outright and the other half will be leased.

The negotiations are expected to continue for a few more weeks.

The new planes are earmarked for medium- and long-distance flights, including New York, Boston, Toronto, Bangkok, Beijing and South Africa. The aircraft are considered cost efficient as regards fuel consumption and maintenance.