Boeing, TAM Complete Contract for Two 777-300ERs

TAM 777-300ER fleet will now consist of 12

SEATTLE, Feb. 28, 2011 /PRNewswire/ -- Boeing (NYSE: BA) and TAM Linhas Aereas (NYSE: TAM) today announced the Brazilian carrier ordered two additional 777-300ERs (extended range) with two purchase rights. Today's order, valued at approximately $568 million at current list prices, brings the total number of 777s TAM has on order to 12.

"TAM continues to position itself as one of the world's leading airlines," said Marlin Dailey, vice president of Sales & Marketing for Boeing Commercial Airplanes. "We are pleased TAM continues to choose Boeing's 777-300ER for its long-haul fleet needs and look forward to working together with TAM as they grow their international network."

The Boeing 777 is the market leader in the 300 to 400 seat market. It is the world's most successful twin-engine, long-haul airplane.

"These additional airplanes will help us expand our long-haul service capability to meet the growing market demand in Brazil and beyond," said Marco Antonio Bologna, chief executive officer, TAM Holdings.

The 777 delivers exceptional value to the airlines that fly it and is consistently ranked at the top of operator and investor polls.

"The Brazilian aviation market continues to grow at a rapid pace. The 777-300ER provides us the performance and versatility we need to develop our network competitively and capitalize on robust international traffic growth," added Libano Barroso, chief executive officer, TAM Airlines.

The Boeing 777-300ER is 19 percent lighter than its closest competitor. It produces 22 percent less carbon dioxide per seat and costs 20 percent less to operate per seat. The airplane can seat up to 365 passengers in a three-class configuration and has a maximum range of 7,930 nautical miles (14,685 km).

Source: BOEING