Dreamliners will come to Mexico in $11B deal

In case you missed this news last week, Boeing appears to have secured a major order from Aeromexico.

The Mexican carrier says it has signed a letter of intent to buy 90 Boeing 737 MAX jets and 10 Boeing 787-9 Dreamliners. Aeromexico, which did not provide financing details, says the order would be the biggest aircraft "investment" ever made in the history of Mexican aviation, according to AFP.

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In a statement, Aeromexico CEO Andres Conesa called the order "a major step forward in consolidating Grupo Aeromexico's international leadership position."

When finalized, Aeromexico says the order will be worth $10.8 billion at list prices, though the company is all but certain to have negotiated a discount. That's a common practice for big airline customers of major jetmakers such as Boeing and Airbus.

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Aeromexico expects to take delivery of its first Dreamliner in 2013 and its first 737 MAX in 2018, according to Reuters.

"This is an important order for Aeromexico's expansion plans in the next few years, although at first glance it seems very aggressive," Marco Montanez , analyst at Vector Casa de Bolsa, says to Reuters. "This will definitely help them roll out new routes and take advantage of operating efficiencies - fuel and maintenance savings - over the medium and longer term."

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Reuters adds "the decision to buy was based mainly on bets Mexico's economy will remain robust in coming years, Aeromexico's (CEO Conesa) told a news conference in Mexico City." Reuters notes Aeromexico's "latest order comes on top of a 20-aircraft package that Aeromexico announced last year, for 10 Embraer jets and 10 Boeing 737-8 NG."

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Dow Jones Newswires provides background, noting that "Aeromexico has benefited significantly from increased passenger traffic since the 2010 bankruptcy of its chief domestic rival, flagship Mexican airline Mexicana."

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