Boeing

The Boeing Company [NYSE: BA] and Avianca Airlines, Colombia's flagship air carrier, today announced the airline has ordered 10 787 s, making it the first South American carrier to order the 787 and marking the largest 787 order to date for Latin America.

The order, worth approximately $1.5 billion at list prices, was previously credited to an unidentified customer on Boeing's Orders and Deliveries Web site. Today's order also includes purchase rights for an additional 10 787s.

Avianca made the announcement at an event attended by German Efromovich, President of the Synergy group which owns Avianca, Avianca President Fabio Villegas and some 400 dignitaries including Colombian Vice President Francisco Santos Calderon, United States Embassy Deputy Chief of Mission Milton Drucker, regional country representatives and Avianca and Boeing employees.

"This order reaffirms the enduring relationship Boeing has maintained with this historic airline for 70 years," said John Wojick, vice president, Sales, Latin America and the Caribbean -- Boeing Commercial Airplanes. "With the 787, Avianca will be able to provide its passengers with the very best in long-range air travel including larger windows, higher cabin humidity, more space and a lower cabin altitude."

"Today's purchase ratifies our commitment to transform Avianca into the leading airline in Latin America," Efromovich said. "We will be the first to offer passengers in our market the most advanced technology guaranteeing more comfortable and pleasurable flights."

Avianca is Colombia's largest airline and the second oldest commercial airline in the world.

The Boeing 787 Dreamliner, scheduled for entry into service in 2008, provides passengers with a better flying experience and operators with a more efficient commercial jetliner. Thirty-nine airlines have logged 491 orders worth more than $75 billion at current list prices since the 787 launch in April 2004, making the Dreamliner the most successful commercial airplane launch in history.

With the 787 Dreamliner, Boeing continues its leadership and innovation with a mostly composite airplane that consumes 20 percent less fuel, provides airlines with up to 45 percent more cargo revenue capacity and offers passengers a better flying experience.