PAS19: IAG signs LoI for 200 Boeing 737 MAX jets

The International Airlines Group (IAG) have signed a letter of intent with Boeing at the Paris Air Show with the intention of purchasing 200 Boeing 737 MAX jets, in a deal that would be valued at more than $24 billion at list prices.

The companies revealed that IAG, the parent company of low-fare carrier LEVEL, as well as airlines including Aer Lingus, British Airways, Iberia and Vueling, had been in discussions with Boeing regarding the opportunity.

“We’re very pleased to sign this letter of intent with Boeing and are certain that these aircraft will be a great addition to IAG’s short-haul fleet,” commented IAG CEO Willie Walsh. “We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months having received approval from the regulators.”

IAG will fly a combination of the 737 MAX 8, which seats up to 178 passengers in a two-class configuration, and the larger 737 MAX 10 jet, which can accommodate as many as 230 passengers. The airline did not reveal the specific split between the models but anticipates deploying the aircraft at a number of the group’s airlines, including Vueling and LEVEL.

“We are truly honoured and humbled by the leadership at International Airlines Group for placing their trust and confidence in the 737 MAX and, ultimately, in the people of Boeing and our deep commitment to quality and safety above all else,” said Boeing Commercial Airplanes president and CEO, Kevin McAllister, “We are delighted that the IAG team recognised the superior qualities of the 737 MAX and has indicated an intention to return to the Boeing 737 family.”

When a final agreement is reached, it will be posted to Boeing’s Orders and Deliveries website.

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