Boeing

The Boeing Company [NYSE: BA] today announced that South Korea-based Jeju Air has ordered five Boeing Next-Generation 737-800s to meet future growth plans. The new airplanes are valued at US$370 million at list prices.

The 737s will be the first Boeing airplanes to enter the Jeju Air fleet. The airline currently operates five regional jets of smaller capacity.

Jeju Air, in a statement, expressed its confidence that "the 737-800 aircraft exactly matches our long term growth requirements for our routes within Korea domestically and to Japan, China and other Asia Pacific regions.

"We also believe that Boeing's modern and enhanced aircraft and initial support will bring great benefits for Jeju Air," said the airline.

"The opportunity to establish a new customer relationship is always an exciting one," said Stan Deal, vice president, Asia Pacific Sales, Boeing Commercial Airplanes. "Jeju Air has a bright future, and the superior economics, reliability and maintainability of the Next-Generation 737-800 are important attributes in helping Jeju Air successfully meet its growth plans."

Known for its reliability, fuel efficiency and economical performance, the 737-800 has been selected by leading carriers throughout the world. The single-aisle jet, which can seat between 162 to 189 passengers, can fly 260 nautical miles farther and consume 6 percent less fuel per seat while carrying 12 more passengers than the competing model.

Boeing has recorded orders for more than 4,400 Next-Generation 737s, and has unfilled orders for more than 1,900 airplanes worth more than $140 billion at current list prices.