Grupo Aeromexico has placed what amounts to the “most significant fleet investment program in Mexican aviation history,” according to a report the Wall Street Journal. The $11 billion order will include 100 Boeing aircraft,consisting of 90 737-8 MAX and 10 B797-9 Dreamliners.
Reuters reported that industry analysts are calling the move “aggressive” and it is yet another indication of the growing international interest in Mexico real estate. Aeromexico currently owns a fleet of 110 aircraft,so the recent order would effectively replace the entire fleet over the next ten years. This is a trend that has been seen by major airlines around the world,as carriers upgrade fleets to improve fuel efficiency and reduce overhead.
“This investment demonstrates the commitment Grupo Aeromexico shareholders have pledged to the country and its confidence in Mexico’s macroeconomic environment and future,” stated Jose Luis Barraza according to the Wall Street Journal,chairman of the Aeromexico’s board of directors.
In addition,Reuters pointed out that airlines attempt to place orders prior to regions that are project to experience growing demand,in order to stay ahead of the curve.
“This will definitely help them roll out new routes,” shared industry analyst Marco Montanez in a statement to Reuters.
Grupo Aeromexico is currently Mexico’s top carrier,providing service to more than 14 million passengers in 2011,with almost 600 daily flights offered to 45 destinations throughout the country and 32 that are internationally based.
“The decision to buy was based mainly on bets Mexico’s economy will remain robust in coming year’s,” Aeromexico’s CEO Andres Conesa stated in a news conference. “These aircraft mean a huge leap in technology in the airline’s fleet and will allow us to have one of the youngest and most efficient fleets worldwide,thus significantly reducing our environmental footprint and consolidating the Group’s fleet into only two types of aircraft.”