TAM Announces Purchase of Four Boeing 777-300ERs and Four Purchase Rights
Tuesday October 31, 7:48 pm ET
TAM becomes the first Latin American carrier to incorporate the B777-300ER, enhancing its long range fleet offerings
SAO PAULO, Brazil, Oct. 31 /PRNewswire-FirstCall/ -- TAM S.A. (BOVESPA: TAMM4) (NYSE: TAM - News), Brazil's largest airline company, today announced the firm order of four new Boeing 777-300ERs plus four purchase rights, making it the first Latin American airline to incorporate these aircraft as part of their long-range fleet plan.
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Currently, the fuel efficient B777-300ER is world's largest long range twin-engines jetliner, carrying approximately 370 passengers in TAM's three class configuration.
As part of the deal and in order to allow TAM to immediately increase the long-range fleet, TAM and Boeing signed an interim short term lease of three Boeing MD-11s prior to acquisition of the four 777-300ERs, all scheduled for delivery in middle of 2008. The MD-11s will be delivered to TAM over the next 6 months.
Marco Antonio Bologna, TAM's CEO stated that this new order is an important step for TAM's future growth in the long haul international market, allowing more flexibility and higher capacity in these routes.
"As one of the newest 777 jetliners in service, the 777-300ER has consistently demonstrated best-in-class reliability and unmatched fuel efficiency," said John Wojick, vice president, sales, Latin America and the Caribbean. "The performance by the 777-300ER will enable TAM to successfully serve passengers on long range routes at lower costs." In addition, Boeing and TAM are working together in the successful implementation and operation of the MD-11 interim lift solution. "We are thrilled to support TAM during this exceptional moment in Brazilian aviation."
Currently the largest Latin American Airbus operator of A319s, A320s and A330s, this is the first TAM order for Boeing Commercial Airplanes in the airline's history.
About TAM:
TAM (
http://www.tam.com.br) has been the leader in the Brazilian domestic market for more than three years, and held a 51.7% domestic market share and 60% international market share at the end of September 2006. TAM operates regular flights to 48 destinations throughout Brazil. It serves 74 different cities in the domestic market through regional alliances. Additionally, it maintains code-share agreements with international airline companies that allow passengers to travel to a large number of destinations throughout the world. TAM was the first Brazilian airline company to launch a loyalty program. Currently, the program has over 3.3 million subscribers and has awarded more than 3.6 million tickets.
