May 2005 |
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Volume 04, Issue
1 |
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New and Notable |
Announcements from Air Canada, Korean
Air and Air India cap successful first year for 787 Dreamliner It's been a wild 12 months for the 787 Dreamliner program at Boeing Commercial Airplanes. The program, which late last month completed its first year since its April 2004 launch, has attracted unprecedented demand from airlines. Since its first order for 50 airplanes, placed by the Japanese carrier ANA (All Nippon Airways), customers had announced orders and commitments for 237 airplanes. Aerospace industry observers have acknowledged these achievements. According to a Seattle Post-Intelligencer report, Heidi Wood, an analyst with Morgan Stanley, called the 787 "inarguably the most successful aircraft launch ever" in a research note written to the brokerage's clients. Among the 787 program's recent headlines:
These agreements follow announcements in 2005 for orders and commitments from Icelandair, Ethiopian Airlines and six leading airlines in China. Through April 26, customers of the 787 had announced orders and commitments for 237 airplanes. In fact, the program's successful first year means that the airplane's delivery positions are "essentially sold out through 2010," said Alan Mulally, Commercial Airplanes president and CEO. Air Canada, Korean Air and Air India joined the 787's other customers in citing the airplane's economics as a key factor in making their decisions. "The 787 will help us realize our goals of being one of the world's top 10 passenger airlines by 2010 and to reduce our costs by 10 percent," said Y.H. Cho, Korean Air chairman and CEO. "Our analysis of these aircraft pointed to overwhelmingly attractive economics," said Robert Milton, president and CEO of ACE Aviation Holdings Inc., the parent company of Air Canada. "We have estimated the fuel burn and maintenance cost savings alone on the 787 to be approximately 30 percent versus the 767s they will replace." Industry observers generally agreed the pact with Air Canada represented a bellwether of the 787 program's progress. "Boeing appears to be making a major technological jump over Airbus," Robert Fay, a financial analyst with Canaccord Capital Corp., told the Canadian newspaper The Globe and Mail. "There's a tipping-point factor here," said Richard Aboulafia, a Teal Group analyst, in a USA Today report. "It's not just about Air Canada. It's more than that—that it could be a clean sweep" against the Airbus A350, a proposed airplane that's generally viewed as a direct competitor to the 787. |
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