Boeing

The Boeing Company [NYSE: BA] today confirmed the completion of an order agreement with Mumbai-based Jet Airways for 10 777-300ERs.

Jet Airways announced its intention to order the commercial airplanes, valued at $2.53 billion at list prices, at the Paris Air Show in June. Deliveries will begin in early 2007.

The 777-300ERs will be used to expand Jet Airways' international operations in Europe, Asia and U.S. markets.

"It is important that Jet Airways take the necessary steps to ensure its leadership position in the fast-expanding Indian aviation market," said Jet Airways Chairman Naresh Goyal. "I am confident that the operating efficiencies and passenger comfort of the Boeing 777 will help ensure the success and profitability of our growing route structure and play a pivotal role in our long-haul growth strategy."

"The 777-300ERs deliver real advantages to our airline customers and help them generate strong profitability from their operations," said Dinesh Keskar, vice president-South and Southeast Asia Sales at Boeing Commercial Airplanes. "We are gratified that our airplanes play a role in the Jet Airways success story in the Indian commercial aviation industry and look forward to continuing our mutually beneficial relationship well into the future."

The Boeing 777-300ER is the largest long-range twin-engine commercial airplane in the world. It extends the 777 family's span of capabilities, bringing twin-engine efficiency and reliability to the long-range market. The 777-300ER, the newest entry in the 300-400 seat market, is 18 percent lighter, consumes 24 percent less fuel per passenger and carries 42 more passengers than the Airbus 340-600.

The Boeing 777 is preferred throughout the industry by both passengers and airlines with over 60 percent market share. The 777 family continues to expand with the recent addition of the world's longest-range commercial jetliner, the 777-200LR (currently in flight test), and the launch of the 777 Freighter in May. To date, 40 airlines have ordered over 700 Boeing 777s, making the 777 the most preferred airplane in its class. Worldwide, more than 520 have been delivered.

In 2007, six additional 737-800s will join Jet Airways' fleet. Jet Airways currently operates a fleet of 39 Classic and Next-Generation Boeing 737-400/-700/-800/-900 airplanes. The airline has one of the youngest aircraft fleets in the world.

Approximately 24,000 passengers travel daily on more than 280 Jet Airways flights to 48 destinations that span the length and breadth of India and beyond, including Colombo, Sri Lanka; Kathmandu, Nepal; Singapore; Kuala Lumpur, Malaysia; and London Heathrow, U.K. Since its inception in May 1993 until end of August 2005, Jet Airways has flown over 53.5 million passengers.