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Boeing, LAM - Linhas Aereas De Mocambique Announce Next-Generation 737 Order

Stocks in this article: BA

MAPUTO, Mozambique, Feb. 5, 2014 /PRNewswire/ -- Boeing (NYSE: BA) and LAM - Linhas Aereas de Mocambique (LAM – Mozambique Airlines) announced an order today for three Next-Generation 737-700 airplanes. The order, valued at $228 million at list prices, includes purchase rights for three additional Next-Generation 737s.

The order, formally signed in November 2013 and was previously unidentified on the Boeing Orders & Deliveries website, is part of the Mozambique flag-carrier and the country's Ministry of Transport and Communication's long-term strategy to increase flight frequency and provide greater route flexibility to and from the southern African nation.

"In order to thrive in this highly competitive environment, LAM - Linhas Aereas de Mocambique has developed an in-depth Strategic Business Plan which resulted in the restructuring of its network to facilitate its growth and expansion," said Dra. Marlene Mendes Manave, chief executive officer, LAM - Linhas Aereas de Mocambique. "This investment in the Next-Generation 737-700s will help Mozambique to remain at the forefront of the growing demand for air travel in our region and enable expansion into several new markets."  

LAM - Linhas Aereas de Mocambique's new 737-700s will be fitted with Boeing's latest Performance Improvement Package (PIP), delivering an additional two percent improvement in fuel efficiency for what is already the most fuel efficient single aisle aircraft. The airplanes will also feature the popular passenger-inspired Boeing Sky Interior, with modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead stowage bins.

"With record passenger numbers in recent years, LAM - Linhas Aereas de Mocambique understands the value of the 737 as it has already successful utilized the airplane's capabilities to become a key player in southern Africa," said Van Rex Gallard, vice president of Sales for Africa, Latin America and the Caribbean, Boeing Commercial Airplanes. "Today's order for Next-Generation 737-700s will enable LAM - Linhas Aereas de Mocambique to realize greater efficiencies, improved performance and enhanced passenger comfort, as the airline continues to move forward with its ambitious growth."

Capable of carrying up to 126 passengers in a two-class configuration, the 737-700 is one of the most successful selling versions of the Next-Generation 737 family. Known for its reliability, fuel efficiency and economical performance, the 737-700 has been selected by leading carriers throughout the world, and has contributed to the strong success of over 6,600 Next-Generation 737 family orders.

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