Air New Zealand announces multi-billion-dollar investment in new fuel-efficient Boeing 787-10 Dreamliners

Company News

by Anna Napoli

Air New Zealand (ASX:AIZ) has announced plans to buy up to 20 Boeing 787-10 Dreamliner aircraft.

At today’s list prices, the agreement represents a value of US $2.7 billion. However, the parties have agreed not to disclose the actual purchase price.

The first of these highly fuel-efficient aircraft will join the Air New Zealand fleet in 2022 and together they will have the potential to save 190,000 tonnes of carbon per year.

The company says it's a hugely important decision for the airline. With the 787-10 offering almost 15 percent more space for customers and cargo than the 787-9. The investment creates the platform for its future strategic direction and opens up new opportunities to grow.

These new long-haul aircraft will replace Air New Zealand’s fleet of eight 777-200 aircraft, which will be phased out by 2025.

Shares in Air New Zealand (ASX:AIZ) closed flat at $2.60 on Friday.