Gulf Air and Boeing Co. sign deal to purchase Boeing 787 Dreamliners
Press Release Issued by Gulf Air: Manama, Bahrain, January 13, 2008 - Gulf Air, the national carrier of Bahrain, has signed an agreement with Boeing Co. to purchase up to 24 Boeing 787 Dreamliners in a deal valued at nearly $6 billion at list price. The agreement is for 16 B-787s on direct order with the right to purchase eight more airplanes. The first 787 deliveries will be made in 2016. By 2019 the B-787s will make up Gulf Air's entire wide-body assets. "We are committed to Gulf Air's future and success," said Gulf Air Board of Directors Chairman Mahmood Al Kooheji. "It is hard to ignore the enhanced operational factors and improved efficiencies of the B-787 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 Chief Executive Björn Näf 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 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 B-787 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 Näf. 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. About Gulf Air Founded in 1950, Gulf Air, owned by the Kingdom of Bahrain is the only truly Pan Gulf carrier in the Middle East region. The regional, geographic and cultural values that the airline has embraced over more than half a century are still central to defining its brand and service ethos. Today the airline's network stretches from Europe to Asia and covers 40 cities in 26 countries. The fleet comprises 30 aircraft and has the distinct advantage of possessing the strongest network across the Middle East. A new strategy to create a platform for sustained commercial operation has been put in place as part of a two-phased turnaround program announced in April 2007 by the airline's new management. Gulf Air's onboard service caters high quality products and services, including the innovative, unique and award winning Sky Chefs and Sky Nannies. Some of the notable recognition include: Best Onboard Catering in First Class 2007 (Sky Trax Awards) Email: pr@gulfair.com
Bahrain's national carrier to add up to 24 Boeing Dreamliners as part of its fleet upgrade plans
Best Onboard Catering in First Class 2006 (Sky Trax Awards)
Best Onboard Catering in Business Class 2006 (Sky Trax Awards)
Best Business Airline 2006 (British Travel Awards)
Best Onboard Service 2006 (Gold) (Mercury Awards)
Best Onboard Catering in First Class 2005 (Sky Trax Awards)
Best Onboard Catering in Business Class 2005(Sky Trax Awards)
Best designed in-flight magazine 2005 (American Creativity Awards)
Middle East Leading First Class Airline 2005 (World Travel Awards)
World's Leading Airport Lounge 2005 (World Travel Awards)
Middle East region's best airport restaurant for its restaurant in Bahrain International Airport lounge 2005 (PAX International Readership Awards)
Official Airline and Sponsor of the Gulf Air Bahrain Grand Prix 2008
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