From: Reuters
Published January 20, 2008 12:00 PM

Boeing, Gulf Air finalize Dreamliner deal

NEW YORK (Reuters) - Boeing <BA.N> said on Saturday it had finalized negotiations to sell up to 24 787 Dreamliners to Bahrain's national carrier Gulf Air in a deal worth about $3.9 billion at list prices if all options are exercised.

The agreement is for 16 787s on direct order with purchase rights for eight additional aircraft, Boeing said.

"In choosing the 787, we are confident that we've made the very best choice for the long-term success of the airline," Gulf Air Chairman Mahmood Kooheji said.

The announcement comes after Boeing said on January 16 it would push back the first test flight and deliveries of its 787 Dreamliner by about three months, as it struggles with outsourced production of the new, carbon-fiber airplane.

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The delay was the second major setback for the program in three months, after the plane maker announced a six-month delay in October, and could mean Boeing will have to pay costly penalties to airlines waiting for planes.

(Reporting by Paritosh Bansal, editing by Maureen Bavdek)

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