This could help benefit Boeing, it’s shareholders, employees and the economy by keeping the 747 in production rather than shutting it down for lack of sales
BOCA RATON, FLORIDA, USA, February 13, 2020 /EINPresswire.com/ — Boeing gets LOI for 30 new 747-8 aircraft a deal that could be worth over $10 billion dollars
Boeing – still reeling from the fallout of two 737 Max tragedies of 2019 could stand a bit of positive news. On February 7, 2020, Boeing received a Letter of Intent from Avatar Airlines for the purchase of 30 new 747-8 passenger version aircraft. Although Boeing is fulfilling a number of sales of its 747-8F freighter, it had no new orders in 2019 for its passenger version. Avatar promises this order could save the legendary “Queen of the Skies” from extinction which otherwise appears to be inevitable.
On November 19th, Avatar filed for a 121 certificate with the FAA and the Department of Transportation for a Certificate of Public Convenience and Necessity for the authority to operate low-fare scheduled service to large major city pairs throughout the U.S. and Hawaii. Avatar will begin with 14 747-400s transitioning to the 747-8 which it considers to be the ideal aircraft to replace the 400s. Management believes the -8 will provide an increase in both passenger and freight capacity while operating at significantly lower costs adding to its net profits.
Instead of adorning the aircraft with first class lounges, piano bars and a decadent seating arrangement reminiscent of the 70's, Avatar plans to bring the 747 experience to the masses. With 539 economy seats on the lower deck and 42 business seats on the upper deck the company will harness the comfort, power, size and safety of the 747, enhancing the overall passenger experience that today's "low-cost" carriers simply lack. Avatar’s economy fares are expected to be 50% less than other carriers.
On February 19th, the Company will begin marketing twenty million shares of Series A Preferred stock under SEC Reg D 506c. If you’re an accredited investor, a licensed broker/dealer or a financial advisor and want to learn more about the company and it’s plans be sure to watch its 5 minute summary.
See all about Avatar Airlines the Company and the Investment in a 5 Minute Summary
Source: EIN Presswire