NYTimes.com Article: Continental Airlines Orders 10 Boeing 7E7's

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Continental Airlines Orders 10 Boeing 7E7's

December 30, 2004
 By REUTERS





By Reuters

Continental Airlines said yesterday that it had become the
first major American airline to order the Boeing 7E7
Dreamliner, agreeing to buy 10 wide-body jets.

The airline, based in Houston, said that the initial
delivery of the 7E7's was slated for 2009 and it would
lease another eight Boeing 757-300 aircraft starting next
year.

Continental said it had also agreed to speed up taking
delivery of six Boeing 737-800 aircraft to 2006 from 2008.
It said Boeing had agreed to provide backstop lease
financing for those aircraft.

The agreements with Boeing are subject to several
conditions, including the approval of Continental's board
and, in the case of the 7E7 agreement, the negotiation of
an engine supply arrangement.

Continental also said yesterday that it expected to
complete its previously announced $500 million in annual
wage and benefit cost reductions by Feb. 28. It said it
believed that it would receive approval from its board for
the additional aircraft, provided that the company's
business case for the aircraft included a cost structure
that would allow the aircraft to generate a positive return
to Continental.

http://www.nytimes.com/2004/12/30/business/30boeing.html?ex=1105427142&ei=1&en=3fa8940a424f4385


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