Farnborough, United Kingdom /PRNewswire/ — Boeing [NYSE:BA] and Monarch Airlines announced that the two companies are finalizing terms and working towards a Purchase Agreement for 30 737 MAX 8s, marking the start of a fleet transition for Monarch to Boeing single-aisle airplanes.
The order, valued at $3.1 billion at current list prices, will be posted to the Boeing Orders & Deliveries website when finalized.
The announcement is an important milestone in an exhaustive three year evaluation process, and a key part of The Monarch Group’s transformation and renewal,” said Iain Rawlinson, Executive Chairman, The Monarch Group. “Boeing truly understood our business and put together a complete package that fits extremely well with our ambitions for the Group. With this announcement, we begin another chapter in our long and fruitful relationship with Boeing, something which now stretches over 40 years.”
“Having reviewed all of the options in the marketplace, we concluded that the Boeing 737 MAX 8 is the aircraft that best fits our future route network strategy, enabling us to tightly control our unit costs whilst offering a superior service to our customers,” said Andrew Swaffield, Managing Director, Monarch Airlines.
The 737 MAX has surpassed 2,000 orders from 42 customers worldwide, the most successful launch in Boeing history. The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
Source Boeing / Edited By Airline Adviser 07/21/14