Air Canada leases additional Boeing 777-300ER

Air Canada has signed a 10-year lease for one new Boeing 777-300ER from International Lease Finance Corporation to continue its wide-body fleet renewal and modernization program.

The airline will take delivery of the leased aircraft in April 2009, bringing to 18 the total number of Boeing 777s entering the fleet. The transaction is part of an ongoing fleet renewal program that will give Air Canada one of the most modern and comfortable aircraft fleets in the world and provide savings on fuel, expanded range capabilities and other efficiencies.

Air Canada has concluded agreements with Boeing for the acquisition of up to 34 Boeing 777s and up to 60 Boeing 787 Dreamliners. The agreements include firm orders for 16 Boeing 777s, plus purchase rights for 18 more. The agreements also include firm orders for 37 Boeing 787 Dreamliners, plus options for an additional 23 aircraft. In addition, Air Canada previously entered into a lease with International Lease Finance Corporation for the lease of one Boeing 777 aircraft.

To date, Air Canada has taken delivery of five 777-300ER aircraft and two 777-200LR aircraft, and is the first North American carrier to operate these aircraft types. Air Canada's first 787 is scheduled for delivery in 2010.

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