El Al plans to buy, lease Boeing 787 Dreamliners

El Al Israel Airlines is in discussion with Boeing about buying 15 787 Dreamliner aircraft, with an option for 13 more units in the next five years.

This is not the first time that El Al, a traditional Boeing customer, announces a Dreamliner deal. “This measure will be a major leap forward in the optimization of our flight routes, serving passengers and the flight experience”. The planes will replace a fleet of seven 747-400s and six 767-300ERs, which serve the North American and Asian destinations of El Al. Profit before tax in the second quarter amounted to approximately $23.6 million, and revenues totaled about $510.6 million compared to $571.5 million past year.

The 787 Dreamliner, which entered service in 2011, is a twin-aisle aircraft with a largely composite structure that Boeing says delivers fuel efficiency. “We shall preserve our position as the first choice in flying to and from Israel and offer customers maximum comfort, technological innovations and quality service”.

Revenue fell 10.7 percent to $511 million as tourism contracted by 15 percent.

“The financial strength and business condition of the Company allow us to distribute dividend and implement the Company’s long-term aircraft Acquisition program for replacing wide-body aircraft, which shall highly improve the competitive ability of the Company in the coming decade”.