TEL AVIV — EL AL will conduct exclusive negotiations with Boeing Corporation for the purchase and lease of 15 new wide-body 787-8 and 787-9 Dreamliner aircraft and an option on an additional 13.

The announcement comes as the carrier reported a second quarter profit of US$17.3 million.

EL AL’s CEO, David Maimon said “I am proud to announce today the largest aircraft acquisition program in the history of EL AL. This move is expected to constitute a significant step forward in the optimization of the network of routes, passenger service and flight experience.

“During the next five years, these aircraft shall replace the 747-400 and 767 fleets and are designated to fly to medium and long haul destinations (New York, Boston, Toronto, Bangkok, Beijing, Mumbai, South Africa and more).”

Dganit Palti, EL AL’s CFO said “the company recorded a decrease in revenues resulting from a reduction in the number of passengers due to a drop in incoming tourism and price erosion, which resulted from the decline in the oil prices and the number of tourists and from currency erosion in relation to the dollar”.