El Al completes largest purchase ever with order for Boeing 737 MAX

Israeli airline El Al has completed the largest aircraft purchase in the airline’s 76-year history with an order for up to 31 new Boeing 737 MAX jets.

The agreement, announced on August 15, 2024, had been expected after El Al confirmed earlier this year that it was in exclusive talks with Boeing and leasing companies about a new order.

The new contract includes the purchase of 20 Boeing 737 MAX aircraft and options for 11 more. Deliveries are scheduled to begin in 2028.

The cost of the new 737 MAX jets is estimated at $1.5 billion. The price could rise to $2.5 billion if options are exercised in the future.

“This is a significant milestone for EL AL, enabling us to offer our customers the most advanced service and technology experience in the industry,” said Dina Ben-Tal Ganancia, CEO of EL AL. “The implementation of the long-term procurement plan, which began with the purchase of additional 787 Dreamliners earlier this year and culminates in the current deal, once again demonstrates our commitment to the Israeli public and state.”

Ben-Tal Ganancia added: “EL AL plays a central role in ensuring open skies for Israel. The implementation of our strategic plan – which aims to expand the fleet, increase the value proposition for customers and increase capacity and seats – will ensure a strong and growing company for many years to come.”