Etihad in expansion mode, to buy 5 Boeing aircraft from Air India

Mumbai: Abu Dhabi-based Etihad Airways has agreed to purchase five Boeing 777 class aircraft from Air India as part of its strategy to continue international route expansion.
The ‘Boeing 777-200 LRs-2’ would be used on the airline’s new route between Abu Dhabi and Los Angeles which starts on June 1, 2014, Etihad said in a press statement.
Though both sides were tight lipped about the deal size, analysts said that Air India could get anywhere between $300 million and $350 million through the sale.
“We are looking forward to starting direct services to Los Angeles, as well as increasing our flying to South America. This is the aircraft to do that,” said James Hogan, President and Chief Executive Officer of Etihad Airways.
The Boeing 777-200 LR, of which less than 60 were manufactured, has a design range of 17,370 km. It would enable Etihad to connect any city in the world from Abu Dhabi, the statement said.
Read news in full 09/10/13 Business Line