El Al orders up to $2.5 bln worth of Boeing 737 MAX jets

Investing.com — El Al (TASE:) on Thursday said it has signed a deal with Boeing (NYSE:) to acquire up to 31 of its 737 MAX aircraft, valued at a potential $2.5 billion, as per a Reuters report. 

The agreement involves an order for 20 737 MAX jets, valued at $1.5 billion. El Al also has the option to purchase an additional 11 aircraft.

The Israeli flag carrier plans to replace its aging fleet of Boeing 737-800 and 737-900 models with the new aircraft, the report added. 

Deliveries are scheduled to commence in 2028, with the possibility of early arrivals as soon as 2027 through leasing arrangements.