Air Canada Orders 61 Boeing 737s

Air Canada has finalized an order for 61 Boeing 737 MAX airplanes.

The order, valued at $6.5 billion at list prices, consists of 33 737 MAX 8s and 28 737 MAX 9s, as well as 18 options and 30 rights to purchase additional 737 MAXs.

"Our narrowbody fleet renewal program with the 737 MAX is expected to yield significant cost savings and is a key element of our ongoing cost transformation program ," said Calin Rovinescu, President and CEO of Air Canada. "Projected fuel and maintenance cost improvements of more than 20% per seat will generate an estimated CASM reduction of approximately 10% compared to our existing narrowbody fleet. In addition, the 737 MAX offers improvements to the environment, making this the best choice for Air Canada."

The 737 MAX incorporates the latest technology LEAP-1B engines from CFM International with other advancements including Advanced Technology winglets, large flight deck displays and the Boeing Sky Interior.

Development of the 737 MAX is on schedule with firm configuration of the airplane completed in July 2013. The first flight is scheduled for 2016, with deliveries to customers beginning in third quarter of 2017.