Nakash Group of America Orders Two Boeing 787-9 Dreamliners

Released on Tuesday, December 05, 2006

Boeing [NYSE: BA] and Nakash Group of America today announced an order for two Boeing 787-9 Dreamliners. Nakash Group of America is a multi-national, multi-billion dollar conglomerate that owns Arkia Israeli Airlines. Arkia, based in Tel Aviv, will operate the 787s, making it the first airline in Israel to offer 787 services to its passengers.

The order is valued at $366 million at list prices. Deliveries are in 2012. Nakash Group also secured options for two 787-9s.

"The 787 is, simply put, an amazing machine," said Joe Nakash, chairman, Nakash Group of America. "We are excited to be the first in Israel to fly our passengers in the superior comfort of the Dreamliner.

"Like the 787, our businesses are global. The Dreamliner will create unprecedented access to growing markets, facilitate international business and build on the increasing demand for air travel around the world," Nakash said.

Since its launch in April 2004, the 787 has become the world's fastest-selling commercial airplane. Thirty-seven customers worldwide have placed more than 450 orders and commitments for the 787, preferring its superior efficiency, economics, range and passenger comfort.

"Today is a great day for Boeing and Israel," said Marlin Dailey, vice president of Sales for Europe, Russia and Central Asia, Boeing Commercial Airplanes. "We are thrilled to welcome the Nakash Group into the 787 family and look forward to seeing the 787 flying in Arkia colors. In just a few years, Israeli travelers will enjoy an unmatchable travel experience."

Arkia will use the 787s to serve destinations in North America and the Far East.

The carrier is evaluating the two engine options for the 787, which are the General Electric GEnx and the Rolls-Royce Trent 1000.

Today the Arkia fleet includes one Boeing 757-200 and two 757-300s, plus four ATR 72-500s and five Bombardier Dash 7s.