Join our daily newsletter At The Bell to receive exclusive market insights
- Air New Zealand has invested billions into eight new Boeing 787-10 Dreamliner aircrafts which will replace its current fleet of 13 787-9 Dreamliners.
- The aircrafts will be powered by GE Aviation’s GEnx-1B engines which are expected to be 25 per cent more fuel efficient.
- The new planes will provide almost 15 per cent more space for customers and cargo than in the 787-10 aircraft currently.
- The first order is expected to be delivered in 2022 with the rest following through to 2027
Air New Zealand has just announced it will invest a value of US$2.7 billion into purchasing eight new 787-10 Dreamliner from Boeing, a multinational aerospace company. The Boeing 787-10’s will be powered by GE Aviation’s GEnx-1B engines. As airlines usually negotiate discounts, the Company has chosen not to disclose the exact final purchase price.
After stating the current fleet of Dreamliners will be phased out by 2025, Chief Executive Officer, Christopher Luxon said: ” the GEnx-1BĀ engines are expected to be 25 per cent more fuel efficient than the aircraft they’re replacing.”
Air New Zealand currently operates a fleet of 13 787-9 Dreamliners which according to Christoper Luxon is the “perfect aircraft for the airline’s Pacific Rim focus.”
The new 787-10 aircraft is longer and more fuel-efficient, holding the potential to save 190,000 tonnes of carbon per year. The Dreamliner also offers almost 15 per cent more space for customers and cargo than the current 787-9’s, making it a much more valuable asset to the Company’s growth strategy.
Vice President of Boeing Commercial Sales and Marketing for the Asia Pacific, Christy Reese said: “We are honoured to extend our deep partnership with Air New Zealand. This is a bold decision by the airline and will help carry forward the ambitions of Air New Zealand for many years to come.”
The agreement includes the option for Air New Zealand to increase the number of aircrafts from eight to up to 20. The first of the Boeing 787-10 aircrafts will join Air New Zealand in 2022 and the remaining aircrafts will be delivered in intervals through to 2027. If the Company notices a difference in market demand whether it is positive or negative, it can choose to accelerate or delay the delivery schedule.
