El Al to Buy Three 737-800s From Spanish Airline

The planes, which will be bought for USD$145 Million will enter service in 2009
 
El Al Israel Airlines said on Tuesday it had signed a letter of intent to buy three new Boeing 737-800s from an unnamed Spanish airline for USD$145 million.
 
In a statement issued by the company it said that the three planes will enter service in 2009, and follow the leasing of two Boeing 737-800s that will enter service this year.
 
The planes will replace five Boeing 757s, which El Al plans to lease to other airlines as either passenger or cargo planes.
 
The purchase is part of El Al's strategy to gradually renew its fleet of aircraft, the company said. These aircraft are in addition to two new 737-800s that El Al plans to lease and which will begin operating in 2008.
 
El Al's fleet currently has 36 passenger and four cargo planes. The airline's management will soon have to decide whether to sell or lease four Boeing 747-200 cargo planes and buy two 747-400s cargo planes to replace them.
 
The airline reportedly believes that it will be better to operate fewer, but more efficient planes.