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Israeli airline EL AL expands aircraft order and bets on Boeing 787-10 to renew fleet by 2035

The Israeli airline EL AL Airlines announced a significant update to its contract with Boeing, opting to acquire the 787-10 model from the Dreamliner family to strengthen its long-haul fleet.

This Thursday, April 16, the company formalized a modification to the original agreement signed in 2024, converting previous orders and options into firm orders for the 787-10, the variant with the highest capacity in the line, reports Aviacionline.

Previously, EL AL had planned to purchase three Boeing 787-9 units and held an option for one more aircraft of this version. With the contract revision, these four aircraft became the 787-10 model, significantly expanding the fleet's capacity.

In addition, the company secured additional options to acquire up to six aircraft of the same type in the future, reinforcing its commitment to long-term modernization and expansion. According to a statement released on the Tel Aviv Stock Exchange, the estimated investment for this fleet expansion is around US$1.5 billion.

This amount includes not only the purchase costs, but also the conversion of models and the acquisition of spare engines. However, the amount may be adjusted according to delivery dates and any credits granted by the American manufacturer, excluding routine maintenance expenses.

The planned schedule stipulates that the 787-10s acquired from the options already exercised will be delivered between 2030 and 2032. If EL AL chooses to exercise the new purchase options, the additional aircraft should arrive between 2033 and 2035. To finance these acquisitions, the company plans to analyze different financial mechanisms closer to the delivery periods.

Currently, EL AL's fleet consists of 13 Boeing 787 aircraft. With this growth plan, the projection is to reach 28 Dreamliner units by the beginning of the next decade, a number that could reach 34 if all options are realized.

This strategy is part of a long-term move by the company to increase its operational capacity and modernize its fleet, aligning with the expected growth in passenger traffic at Ben Gurion International Airport in the coming years, with an expanded seat capacity.

Vivaero