New Pilots

El Al In Talks To Aquire 15 Boeing 787 Dreamliners

2015 08 07

El Al said it is opening talks with Boeing to buy and lease up to 15 new 787s over the next five years in a deal that could be worth USD$800 million - USD$900 million.

The airline said delivery of the 787-8 and 787-9 Dreamliners would begin in the first half of 2017. The planes will replace a fleet of 747-400 and 767 aircraft and will operate on medium- and long-haul routes, including North American and Asian destinations.

El Al said it expects the talks to be completed in the next few weeks and the final price would depend on how many planes it ends up buying.

The Israeli flag carrier - which has an all-Boeing fleet - said in May that its net loss narrowed in the first quarter as it increased its market share, flew more passengers and benefited from a stronger US dollar and lower fuel prices.

Its market share at its Tel Aviv airport base rose to 35.4 percent from 33.3 percent in 2014 but in recent years El Al has been losing share to foreign airlines in a highly competitive market.