Boeing and Air New Zealand make £2.7bn deal for new jets
Air New Zealand has looked to Boeing’s new line of 787-10 aeroplanes to improve their fleet with new high capacity carriers.
A deal struck between Boeing and Air New Zealand on 25 September 2019 comprised an order of eight 787-10 Dreamliner aeroplanes valued at US$2.7bn (based on list prices). In 2022,Dreamliner’s largest model will join the airline’s expansive fleet of 787-9 and 777 planes in an effort to grow the scope of Air New Zealand’s business.
The deal was announced as a commitment in May and includes the opportunity to increase the stock from eight to 20 planes, if the airline should wish. It will also allow for substitution rights for models between the larger 787-10 down to the smaller 787-9s, giving Air New Zealand more flexibility in its options before 2022.
"This is an exciting decision for our business and our customers as we deliver on our commitment to grow our business sustainably. With the 787-10 offering around 15 percent more space for both customers and cargo than the 787-9, this investment creates the platform for our future strategic direction and opens up new opportunities to grow," said Christopher Luxon, Air New Zealand Chief Executive Officer.
As the largest model in the Dreamliner range, the 787-10 is just over 224 feet long and can seat up to 330 passengers across its two-class configuration. This is around 40 more than the 787-9’s capacity, and the 787-10 is alsofitted with a wide range of next-gen technologies and an innovative design that optimises for space, comfort and fuel efficiency. When it entered service in 2018, it set new industry standards for operational and fuel economy; compared to other leading manufacturers, the model is, on average, 25% more fuel efficient than planes in its class.
"Air New Zealand has made very strategic investments in advanced widebody aircraft to build on its status as a leading global carrier connecting the South Pacific with Asia and the Americas. We are very honoured that Air New Zealand has selected to add the 787-10 and its unique capabilities to complement its long-haul fleet of 777 and 787-9 airplanes," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing at Boeing.
Air New Zealand was a launch customer to the 787-9 and currently operates 13 of the planes throughout its network, a number it is looking to grow to 22 with a set of new vehicles including the eight already agreed upon. This number could be set to rise as high as 34 if Air Zealand opts to take on the full amount allowed under the agreement.