Boeing, Icelandair Finalize Order for 16 737 MAX Airplanes

• Icelandic carrier to operate both 737 MAX 8s and 9s
• Agreement includes purchase rights for eight additional 737 MAXs

REYKJAVIK, Iceland, Feb. 13, 2013 /PRNewswire/ -- Boeing [NYSE: BA] and Icelandair announced a firm order today for 16 737 MAX airplanes, valued at more than $1.6 billion at list prices. The order, originally announced as a commitment for 12 airplanes in December 2012, has been increased to 16 airplanes and includes 737 MAX 8s and 9s, as well as purchase rights for eight additional 737 MAXs. Today's announcement brings the total number of 737 MAXs ordered to date to 1,180.

"The 737 MAX will complement our Boeing 757 operations seamlessly and allow us to continue our route expansion in the most fuel-efficient manner," said Bjorgolfur Johannsson, Icelandair Group president and CEO.

The 737 MAX builds on the strengths of the world's best-selling Next-Generation 737. The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. Airlines operating the 737 MAX will see a 13 percent fuel-use improvement over today's most fuel-efficient single-aisle airplanes.

"The 737 MAX will be an excellent addition to Icelandair's all-Boeing fleet, enabling the carrier to expand its operations across Europe and North America with increased fuel efficiency, route flexibility and passenger comfort," said Todd Nelp, vice president of European Sales, Boeing Commercial Airplanes.

The Icelandair Group currently operates an all-Boeing fleet of 23 Boeing 757 airplanes for both its passenger and cargo operations. The Icelandic carrier has used the geographical location of its Reykjavik-based hub mid-way between North America and Europe, as an opportunity to build an ever-growing network of more than 35 international destinations.