Boeing, EgyptAir announce 777 fleet enhancement

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Boeing [NYSE: BA] and EgyptAir today announced an order for two 777-300ER (Extended Range) jetliners as part of the airline's twin-aisle fleet upgrade for its long-haul service.

The order, which is worth $529 million at current list prices, previously was attributed to an unidentified customer on Boeing's Orders & Deliveries Web site.

"The notable fuel efficiency of Boeing's 777, combined with the airplane's extensive range and large cargo capacity, is something EgyptAir values highly in this competitive environment," said Capt. Tawfik Assy, chairman of EgyptAir Holding Company. "As a new member of the Star Alliance, we look forward to increasing our connectivity across the globe and bringing our passengers the utmost in cabin comfort and service with a dynamic new business class layout that will debut on the 777-300ER."

On July 11, EgyptAir celebrated its induction as the 21st member of Star Alliance, officially expanding its network to 1,624 weekly flights to 69 destinations around the world. The Cairo Airport Authority plans to open a dedicated Star Alliance terminal later this year, capable of serving 11 million passengers annually.

"We'd like to congratulate EgyptAir on its order and acquisition of Boeing 777-300ERs and on the airline's induction into the Star Alliance," said Marty Bentrott, vice president of Sales for The Middle East and Africa, Boeing Commercial Airplanes. "The 777's operational performance, with its significant savings in fuel and maintenance costs, will have a positive impact on EgyptAir's growth plans and help the airline achieve greater profitability."

EgyptAir's new business class seating planned for the 777-300ER includes 49 full lie-flat beds with a 78-inch seat pitch. The airline is slated to receive its first 777-300ER on lease in January 2010 with three additional airplanes delivering throughout the year.

Fifty-six customers from around the world have ordered 1,092 777s, making it the most successful large twin-engine airplane in the world. Boeing has more than 355 unfilled orders for the 777, worth more than $91 billion at current list prices.

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