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Boeing: Lagos' Green Africa Airways Commits $11.7 Bln Worth 100 737 MAX Aircraft

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(RTTNews.com) - Boeing Co. ( BA ) announced Friday a commitment from Lagos-based Green Africa Airways for up to 100 737 MAX 8 aircraft, evenly split into 50 firm aircraft and 50 options, as the airline gears up to begin commercial operations.

The total deal carries a list-price of $11.7 billion, the largest aircraft agreement from Africa, It will be reflected on Boeing's Orders and Deliveries website once finalized.

Green Africa Airways, a value airline based in Lagos, Nigeria aims to offer safe, quality and affordable air travel and be a significant contributor to the economic development of Nigeria and the African continent.

The airline initially plans to develop the Nigerian market and then build a strong Pan African network. The new airline has received its Air Transport License from the Nigerian government and is anchored by a group of senior industry leaders led by Tom Horton, former Chairman and CEO of American Airlines, William Shaw, Founder and former CEO of VivaColombia and Virasb Vahidi, former CCO of American Airlines.

According to Boeing's 20-year Commercial Market Outlook, airlines in Africa will require 1,190 new airplanes as the continent boosts both intra-continental and intercontinental connectivity over the next couple of decades.

"The growth potential for air travel across Nigeria and Africa is extraordinary with the airplane fleet expected to more than double over the next 20 years," said Ihssane Mounir, Senior Vice President of Commercial Sales & Marketing, The Boeing Company.

The 737 MAX is the fastest-selling airplane in Boeing history, accumulating more than 4,800 orders from over 100 customers worldwide.

Read the original article on RTTNews (http://www.rttnews.com/2964786/boeing-lagos-green-africa-airways-commits-11-7-bln-worth-100-737-max-aircraft.aspx)

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