ALC adds five more 787-9s to its fleet of 56 Dreamliners

The 787 is the fastest-selling widebody jet in history with more than 1,400 total orders from over 80 customers

Boeing [NYSE: BA] and Air Lease Corporation [NYSE: AL; "ALC"], a leading aircraft leasing company, announced a commitment during the Paris Air Show to purchase five 787-9 Dreamliners, valued at $1.5 billion at list prices.

"Demand for reliable, versatile, and fuel-efficient airplanes is at an all-time high," said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. "These five Boeing 787-9 aircraft are required by our airline customers to satisfy strong ALC lease placements of the 787."

Boeing has sold more than 1,400 Dreamliners since the program's introduction, making it the fastest-selling widebody jet in history. The 787 Dreamliner allows airlines to reduce fuel use and emissions by 20 to 25 percent and serve far-away destinations.

The 787-9, a stretch of the 787-8, can fly 296 passengers 7,635 nautical miles (14,140 km) in addition to carrying more cargo and allowing airlines to profitably grow routes first opened by the 787-8. The combination of unrivaled fuel efficiency and long range has helped airlines flying the 787 family of airplanes save more than 36 billion pounds (16 billion kilograms) of fuel and open more than 235 non-stop routes.

"We are thrilled that ALC has decided to add more 787 Dreamliners to its elite portfolio of airplanes that they place with customers across the globe," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing of The Boeing Company. "I'm confident that the market-leading capabilities of the 787-9 will continue contributing to ALC's long-term success."