SEATTLE, April 21 /PRNewswire-FirstCall/ -- The Boeing Company (NYSE: BA - News) and U.S.-based commercial jet airplane leasing company Aviation Capital Group (ACG) today announced an order for 17 Next-Generation 737 airplanes. This order, valued at more than $1 billion at current list prices, was previously accounted for on Boeing's Orders and Deliveries Web site attributed to an unidentified customer.

"Today's order reflects ACG's commitment to its customers by offering the most technologically advanced, fuel efficient and highly flexible aircraft in the industry," said R. Stephen Hannahs, group managing director and CEO of ACG. "It is our strategy to build a portfolio that includes the highly versatile Next-Generation 737 aircraft, which are fuel efficient, retain high value and are in demand by airlines around the world."

The airplanes will be equipped with performance-enhancing Blended Winglets, which improve fuel efficiency and reduce CO2 emissions by up to 4 percent.

With today's announcement, ACG has ordered a total of 81 Boeing airplanes -- 76 Next-Generation 737s and five 787 Dreamliners. This includes 15 Next-Generation 737s in which ACG acquired delivery positions from Delta Air Lines in 2006. ACG's current fleet contains 129 Boeing aircraft.

"The Next-Generation 737's dependability, low operating cost and passenger comfort will provide unmatched value and reliability for airlines and their passengers," said John Feren, vice president of Sales - Leasing and Asset Management, Boeing Commercial Airplanes. "Today's announcement is Aviation Capital Group's eighth Boeing purchase commitment in the last 24 months, and we are proud of that strong partnership."

The Next-Generation 737 family is the most technologically advanced airplane-family in the single-aisle market. The Next-Generation 737's market success is confirmed by air finance investors, who consistently rank it as the most preferred airplane due to its wide market base, superior efficiency and lowest operating costs in its class. The 737 is the best-selling commercial jetliner in history, with more than 7,800 orders from more than 245 customers around the world. Boeing has more than 2,100 unfilled orders for the airplane with a value exceeding $150 billion at current list prices.

Aviation Capital Group is owner/lessor and portfolio manager of a diversified fleet of commercial jet aircraft leased to the world's leading airlines. Its portfolio includes more than 200 airplanes leased to more than 90 airlines in more than 40 countries. ACG's Capital Markets Group also provides asset management and remarketing services to airplane investors and institutional clients. ACG was founded in 1989 and is a wholly-owned subsidiary of Pacific LifeCorp.

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Source: Aviation Capital Group

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