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Gulf Air signs agreement to acquire up to 24 Boeing 787 Dreamliners

Gulf Air signs agreement to acquire up to 24 Boeing 787 Dreamliners
Gulf Air, the national carrier of Bahrain, has signed an agreement with Boeing to purchase up to 24 B787 Dreamliners, in a deal valued at nearly USD6 billion at list prices. The agreement is for 16 B-787s on firm order, with the right to purchase eight more airplanes. The first 787 deliveries will be made in 2016. By 2019 the B787s will make up Gulf Air's entire wide-body fleet, replacing its current mix of B767, A330 and A340 equipment.

"We are committed to Gulf Air's future and success," says Gulf Air Board of Directors Chairman Mahmood Al Kooheji. "It is hard to ignore the enhanced operational factors and improved efficiencies of the B787 and we will do our utmost to take advantage of this unique airplane's capabilities to grow and increase our market share."

Gulf Air's Acting President and CEO, Bjorn Naf, echoed similar remarks, adding that Gulf Air is also looking to leasing market to have 16 more 787s ready to join the fleet from 2010.

"We have made the decision to make the B-787 Dreamliner the backbone of our flight operations after a long and extremely thorough negotiations," says Näf adding that this marks the beginning of the complete refleeting of Gulf Air.

"We believe that flying with this new generation aircraft will enable us to achieve our aim of becoming the airline of choice from the Gulf region," he added.

Throughout the past year, Gulf Air and Boeing have worked together closely on an extensive airplane acquisition analysis that explored every aspect of the B-787's capabilities and performance and how it can augment the airline's long-term success.

"Considering the B787 economics, which includes best fuel burn in its class, lower maintenance costs due to the airplane's revolutionary composite structure and unmatched interior comfort, the aircraft will further enhance Gulf Air's competitive advantage for long-haul operations to and from the Gulf region," says Naf.

Gulf air has also entered a strategic partnership with Boeing for training, maintenance and fleet development in the future.

Boeing's 787 Dreamliner has been validated across the globe and is the fastest-selling new airplane program in history with a total of 833 orders from 56 customers since launch in 2004.

"This is truly a milestone in our relationship with Gulf Air," said Boeing Commercial Airplanes Senior Vice President of Sales for The Middle East & Africa, Marty Bentrott.

"We're proud to have Gulf Air become our latest B-787 customer in the Middle East and we're committed to our long-term working relationship as we collaborate on the airline's transition to a B-787 fleet."

In addition to bringing big-jet ranges to mid-size airplanes, the B-787 provides unmatched fuel efficiency and will use 20 percent less fuel for comparable missions than today's similarly sized airplane.

The Dreamliner travels at speeds similar to the current fastest wide bodies, Mach 0.85 and also allows airlines greater cargo revenue capacity. Passenger improvements on the B-787 include larger windows, an interior environment with higher humidity and overall increased comfort and convenience.


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