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Boeing, ILFC Announce New 787 Operator Neos

Stocks in this article: BA

MILAN, May 13, 2014 /PRNewswire/ -- Boeing (NYSE: BA) and International Lease Finance Corporation (ILFC) today announced that two 787-8 Dreamliners will be leased by ILFC to the Italian carrier Neos. Based at Milan Malpensa Airport in northern Italy, Neos will become the country's first 787 operator when it takes delivery of the airplane in 2018.

Neos currently operates an all-Boeing fleet of six Next-Generation 737-800s and two 767-300ER (Extended Range) airplanes. The airline will use the 787s to provide even greater passenger comfort and service, and expand its route network. ILFC is Boeing's largest 787 customer with orders for 74 of the airplane type. This is not an incremental 787 order for Boeing.

"We are proud to announce this deal. With the 787s, we will continue to deliver our passengers the best travel experience in the industry – just as we have been doing since 2002 with the delivery of our first new Boeing 737-800," said Carlo Stradiotti, chief executive officer of Neos SpA. "This deal is possible because of the excellent work performed by our colleagues in the last 12 years of operations and because Neos is a part of the Alpitour Group, the most important and best integrated tourism group in the country."

"ILFC and Neos have worked together for over 10 years and we are proud to be part of their fleet renewal with 787s. The 787s will deliver a new level of passenger comfort and aircraft efficiency to the Italian leisure charter market," said ILFC Executive Vice President And Chief Marketing Officer, Philip G. Scruggs. "We look forward to expanding this new relationship."

The 787 Dreamliner is the world's most technologically advanced airplane with composite materials making up 50 percent of the primary structure, including the fuselage and wing. In addition to bringing big-jet ranges to midsize airplanes, the 787 will provide Neos with unmatched fuel efficiency, using 20 percent less fuel than today's similarly sized airplanes.

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