Boeing and Hainan Airlines today announced that they are finalizing terms of a purchase agreement for 50 fuel-efficient 737 MAX 8s, reaffirming the Chinese airline's preference for an all-Boeing single-aisle fleet.

The deal, announced at the Farnborough airshow in Great Britain, is valued at more than $5.1 billion at current list prices and is subject to the approval by the Chinese government.

"The 737 is the backbone of our single-aisle fleet," said Hainan president Adam Tan. "The new 737 MAX will help our airline grow, become more efficient and offer five-star service to our passengers."

"It is a privilege to welcome Hainan Airlines as Boeing's newest 737 MAX customer," said John Wojick, senior vice-president of global sales and marketing at Boeing. "We are confident the 737 MAX will play a significant role in Hainan's continued success."

The 737 MAX has surpassed 2,100 orders from 42 customers worldwide and is the fastest selling airplane in Boeing history.

According to a statement from Boeing, the 737 MAX 8 provides customers with more flexibility and cost efficiency than the competition in the heart of the single-aisle market. Airlines operating the 737 MAX 8, the statement reads, will see an 8 percent operating cost per seat advantage over the A320neo.

lindadeng@chinadailyusa.com

(China Daily USA 07/17/2014 page2)