Israeli flag carrier El Al has finalized it largest ever aircraft purchase in the airline’s 76-year history with an order for up to 31 new Boeing 737 MAX jets.
The agreement announced on August 15, 2024, had been expected after El Al confirmed earlier this year that it was in exclusive talks with Boeing and leasing companies about a new order.
The new deal includes the purchase of 20 Boeing 737 MAXs and options for 11 more, with deliveries expected to begin in 2028.
The cost for the new 737 MAX jets is valued at $1.5 billion with the price potentially rising to $2.5 billion if the options are taken up in the future.
“This is a significant milestone for EL AL, which will allow us to offer our customers the most advanced service and technology experience in the industry,” said Dina Ben-Tal Ganancia, CEO of EL AL. “The implementation of the long-term procurement plan, which began with the purchase of additional 787 Dreamliners earlier this year and culminates in the current deal, once again demonstrates our commitment to the Israeli public and the state.”
Ben-Tal Ganancia added: “EL AL has a central role in ensuring open skies for Israel. The implementation of our strategic plan – which aims to expand the fleet, increase the value proposition for customers and increase capacity and seating – will ensure a strong and growing company for many years to come.”
El Al’s 737 MAX order follows its purchase earlier this year of three additional 787-9s with options for six more.
The carrier will take delivery of a new 787-9 this year and plans to receive two more new 787-9s on lease in the coming years.
“We are honored EL AL has chosen Boeing airplanes to power its past, present and future as we continue to build on seven decades of partnership,” said Stephanie Pope, President and CEO of Boeing Commercial Airplanes. “We know EL AL depends on the versatility and reliability of Boeing airplanes, and we look forward to delivering the 737 MAX and 787 Dreamliner jets that will reshape and grow the airline in the coming decades.”
The new aircraft will replace El Al’s current fleet of Boeing 737-800 and 737-900 aircraft.