ILFC Places Large Boeing Order

International Lease Finance Corporation (ILFC), a unit of American International Group (AIG), has ordered 61 more Boeing jets, Boeing Commercial Airplane Group confirmed today. With this announcement, firm Boeing orders by the worldwide lessor and financier of jet transports total 455.

ILFC placed orders for 31 Next-Generation 737 jetliners, the -600, and added two more Boeing 747-400s. Included in the order are seven of the popular Boeing 767-300ER (extended range) twinjets and five 767-400ERs, a stretched addition to the 767 family.

ILFC has affirmed its commitment to the Boeing 777 by ordering a mix of ten 777-200 IGW (increased gross weight) airplanes with substitution rights for the 777-300, a higher capacity, stretched version. The quantity of each will be decided at a later date.

In rounding out the product line of Boeing jetliners, ILFC has ordered six 757-200/-300s, the combination of which also to be determined in the future.

Engine decisions will be announced by ILFC.

"These new jets will ensure that we have a sufficient flow to meet our customers' requirements," said Steven Udvar-Hazy, president and CEO of ILFC. "The flexibility of this order of 757s and 777s will allow ILFC a better position with which to lease to our extensive customer base worldwide."

ILFC now has 269 737s, the world's most popular commercial jetliner. The Next-Generation 737s deliver more value to customers in the form of reliability, simplicity and reduced operating and maintenance costs. The "faster, farther, higher" 737s will be powered by CFM56-7 engines, which is standard for the Next-Generation model. "Boeing is ILFC's largest and most important aircraft provider over the past 20 years," Hazy said. "This new order cements that relationship for the next 10 years," he added.

The Boeing 747-400, the world's largest jetliner, is capable of ranges up to 8,400 statute miles (13,518 km). Today's order brings the total of 747s for ILFC to 16.

This is the first time ILFC has ordered the 767-400ER and is one of the launch customers. This twinjet will allow airlines to serve medium-size markets, with seating for 200 to 400 passengers on transcontinental routes. Its performance, excellent operating economics and family ties to the 757/767 fleet give operators a strategic advantage in this market. With this order, ILFC will have a total of 59 767s.

As a derivative, the 757-300 will complement the 757-200. The 757-300 will retain the simplicity and reliability of the 757-200. Both models will have the same flight deck and operating systems, but some features will change. Besides a lengthened fuselage, changes on the 757-300 will include a new interior with vacuum lavatories; new tires, wheels and brakes; a tail skid; and strengthened wings and landing gear. ILFC has ordered a total of 73 757s.

The first of ILFC's 34 777s, a -200 IGW from a previous order, is scheduled to be delivered in November.

The first Boeing 777-300 is scheduled to be delivered in May, 1998. The -300 will complement the existing range of available 777 models and offers an attractive option for progressively lower cost per seat within the 777 family.

"ILFC has reaffirmed a strong partnership with Boeing that began in 1977 with an order for 737s, " said Ron Woodard, president of Boeing Commercial Airplane Group." And over the past 20 years ILFC has built itself to be one of the major aircraft leasing companies in the world. In the last six years, it has taken delivery of more Boeing jets than any other customer."

This order extends ILFC's current deliveries through the year 2006.