May 29, 2007 / 9:27 AM / 12 years ago

Russia S7 signs $2.4 bln Boeing 787 deal

Final assembly of a Boeing 787 Dreamliner takes place at the company's Everett, Washington plant May 21, 2007. Russian airline S7, formerly called Sibir, has signed a $2.4 billion contract for 15 Boeing 787 "Dreamliner" planes, Russia's Interfax news agency quoted a company statement as saying on Tuesday. REUTERS/Robert Sorbo

MOSCOW (Reuters) - Russian airline S7, formerly called Sibir, said on Tuesday it had signed a $2.4 billion contract for 15 Boeing-787 Dreamliner (BA.N) planes and had an option to buy 10 more.

“This is so-called ‘book value’. This is what we have agreed with Boeing to make public at this news conference,” S7 General Director Vladislav Filyov told reporters.

Filyov said a ‘considerable’ advance had already been paid, but declined to specify how much. The first seven planes are scheduled for delivery in 2014.

“The option is an issue for separate talks,” he said, adding that the firm would borrow funds from banks.

“The product is so good that banks are simply queuing up to finance it,” Filyov said.

Last month the company signed a $705 million deal with Boeing, ordering 10 Boeing 737-800s and securing purchase rights for another 10 of the same model.

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