The Boeing Company [NYSE: BA] today announced that an order from Brazil's TAM Airlines [BOVESPA: TAMM4 and NYSE: TAM] for four additional 777-300ERs brings to 1,003 the number of 777s ordered since the first order of the popular widebody in 1990. Today's announcement also means that, to date in 2007, Boeing has received orders for 100 of the popular 777s.
TAM is Brazil's largest airline, flying both domestic and international routes. TAM became the first Latin American airline to incorporate the 777-300ER into its long-range fleet plan when it booked its initial order for four 777-300ERs earlier this year. TAM's first 777-300ER is scheduled to be delivered in June 2008. Prior to ordering these eight 777s, TAM was an exclusive Airbus operator.
"TAM's recent orders confirm airline preference for the 777 family which commands more than a 65 percent market share in its category because of its lower operating costs, passenger pleasing cabin and unmatched reliability, " said Larry Loftis, vice president, Boeing 777 Program. "We have continually enhanced and improved the performance of the 777 family of airplanes. Today, we have grown that family to include two, new, longer range 777s and a freighter version that will enter service in the fourth quarter of 2008."
Marco Antonio Bologna, TAM's CEO said the 777-300ER acquisitions are an important step for TAM's growth in the long-haul international market. "The Boeing 777 provides TAM with unmatched revenue-generating capability, beginning with fuel savings and environmental benefits," Bologna said. "Further, this is a plane long-haul passengers recognize for its spaciousness, comfort and award-winning interiors."
The fuel-efficient 777-300ER is the world's largest long-range twin-engine jetliner capable of carrying 365 passengers up to 7,880 nautical miles (14,594 kilometers). The efficient twin-engine design provides the lowest fuel consumption and overall operating costs in its class.