The Boeing Company [NYSE: BA] and TAM S.A., Brazil's largest airline, today announced conclusion of a pending deal for four 777-300ER (Extended Range) jetliners.
TAM, which flies both domestic and international routes, first announced its intention to acquire the 777-300ERs in October. This successful conclusion of negotiations will make TAM the first Latin American carrier to operate the popular 777-300ER.
TAM received two of three MD-11 jets in February, which the airline will use on trans-Atlantic flights, prior to receiving the 777-300ERs. The recently concluded 777 contract with the airline also includes purchase rights for four additional 777-300ERs. The four new airplanes were previously listed as "unidentified" on Boeing's Commercial Orders and Deliveries website.
"This contract is an important step for TAM's future growth in the long-distance international market, allowing the airline more flexibility and larger capacity on these routes," said TAM President Marco Antonio Bologna.
"TAM's order reaffirms why the 777 family of airplanes is preferred throughout the industry, and has garnered 67 percent of the market since launch," said John Wojick, vice president-Sales, Latin America and the Caribbean, Boeing Commercial Airplanes.
The fuel-efficient 777-300ER is the world's largest long-range twin-engine jetliner and is capable of carrying approximately 370 passengers in TAM's three-class configuration, flying up to 7,880 nautical miles (14,594 kilometers). The 777-300ER is powered by General Electric GE90-115B engines, the world's most powerful commercial jet engines.