LATAM Orders 10 787 Dreamliners to Grow Boeing Widebody Fleet

Rhea-AI Summary

Boeing [NYSE: BA] announced that LATAM Airlines Group has ordered 10 Boeing 787-9 Dreamliners with options for 5 more aircraft. As Latin America's largest 787 operator with 37 existing 787s, LATAM aims to expand its fleet to 52 Dreamliners by 2030. The 787-9 offers 25% better fuel efficiency compared to previous models and will help LATAM grow sustainably while reducing its carbon footprint. The airline plans to receive at least two aircraft annually from 2025 through the decade's end. Boeing's Market Outlook forecasts Latin American air travel to double over the next 20 years, with regional fleet growth expected to exceed 3,000 airplanes by 2043.

Positive

• Secured order for 10 787-9 Dreamliners with options for 5 more
• Strengthens relationship with key Latin American customer LATAM
• Supports Boeing's market presence in growing Latin American aviation market
• Contributes to Boeing's commercial aircraft backlog

Negative

• None.

News Market Reaction

-2.79%

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On the day this news was published, BA declined 2.79%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SANTIAGO, Chile, Oct. 28, 2024 /PRNewswire/ -- Boeing [NYSE: BA] and LATAM Airlines Group, the leading passenger and cargo airline group in South America, today announced the purchase of 10 787 Dreamliners with options for five more airplanes. As the region's largest 787 operator, this latest order for fuel-efficient 787-9 jets increases LATAM's investment in one of the most modern fleets in Latin America.

LATAM currently operates 37 787-8s and 787-9s and, including this latest order, expects to grow the fleet to 52 Dreamliners by 2030. The 787 enables the airline to maximize capacity on popular routes and launch new routes including its nonstop flight to Sydney, Australia.

"The Boeing 787 is a much more efficient aircraft, allowing us to continue growing sustainably while reducing our carbon footprint as we drive the growth of our operations. This order will enable us to receive at least two aircraft of this model each year from 2025 until the end of the decade," said Ramiro Alfonsín, Chief Financial Officer of the LATAM Airlines Group.

The 787 family offers unmatched fuel efficiency, enabling airlines to reduce fuel use and emissions by 25% compared to the airplanes they replace. The larger 787-9 extends the capacity and range of the Dreamliner family, flying more passengers and cargo farther.

"We appreciate LATAM's continued confidence in the 787 Dreamliner family to further expand its international network from hubs in Santiago, Sao Paulo and Lima," said Mike Wilson, Boeing vice president of Commercial Sales for Latin America and the Caribbean. "As demand for air travel rises, we will continue to support LATAM's growth strategy and goal of connecting Latin America with the world."

Since entering service in 2011, 787 Dreamliners have helped operators launch more than 400 new nonstop routes and avoid more than 173 billion pounds of carbon emissions.

The 2024 Boeing Commercial Market Outlook forecasts air travel in Latin America will more than double over the next 20 years, growing 5% annually. With nearly 2,300 airplane deliveries expected, the region's fleet is projected to grow to more than 3,000 airplanes by 2043.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.

Contact

Boeing Media Relations
media@boeing.com

 

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SOURCE Boeing

FAQ

How many Boeing 787 Dreamliners did LATAM Airlines order in October 2024?

LATAM Airlines ordered 10 Boeing 787-9 Dreamliners with options for 5 additional aircraft.

What is LATAM's total expected Boeing 787 fleet size by 2030?

LATAM expects to grow its Boeing 787 Dreamliner fleet to 52 aircraft by 2030.

What is the fuel efficiency improvement of the Boeing 787 compared to previous models?

The Boeing 787 reduces fuel use and emissions by 25% compared to the airplanes they replace.

How many Boeing 787 Dreamliners does LATAM currently operate?

LATAM currently operates 37 Boeing 787-8s and 787-9s.