BUSINESS: First European Customers for the 7E7, page 1

Boeing has announced that it has orders for the new 7E7 Dreamliner in Europe. THe two airlines are charter airlines based in both Italy and the UK.

www.boeing.com
SEATTLE, July 7, 2004 -- The Boeing Company [NYSE: BA] today confirmed announcements that Blue Panorama of Italy and First Choice Airways of the United Kingdom have selected the 7E7 Dreamliner to replace and expand their existing airplane fleets. These two carriers are the first in Europe to choose the 7E7, the world's newest, most advanced commercial jetliner.

In separate press conferences in Rome and London , the carriers announced plans to acquire a total of 10 7E7s, valued at $1.2 billion at list prices. Blue Panorama will add four 7E7s to its fleet at a value of $500 million and First Choice will receive six 7E7s. Contract negotiations are expected to conclude later this year. Deliveries are scheduled to begin in 2009.

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European orders will play an important part in the furute of Boeing. Getting on the board with these two orders albeit small is hopefully the start of many. Boeing will have its work really cut out for it in competing with the EU subsidized Airbus Consortium. According to congressional reports, Airbus ha recieved more than 30 billion in subsidies since its founding in the 1960's and Airbus partnet governments have born anywhere from 75-100% of new aircraft development costs. In 20 years or so we will find out if Boeing or Airbus is right in thier market projections (Big the A380 or small the 7E7)

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[edit on 9-7-2004 by John bull 1]