Air Canada to renew Boeing fleet

Air Canada to renew Boeing fleet

   Air Canada said Monday it plans to renew its widebody fleet with up to 36 Boeing 777s and up to 60 Boeing 787 Dreamliners.

   The agreement with Boeing includes firm orders for 18 of the 777 airplanes, plus purchase rights for 18 more as well as firm orders for 14 of the 787s, plus options and purchase rights for 46 more airplanes. The firm orders are valued at approximately $6 billion at list prices.

   Boeing will deliver the first 787 aircraft to Air Canada in 2010.

   Air Canada and Boeing said they expect to finalize the agreement by mid-year.

   At the same time, Boeing said Panama-based Copa Airline placed an order for up to 15 of its 737 airplanes, five of which are firm orders. If all purchase rights are exercised the 15 aircraft will cost about $750 million at list price.