TODAY

Yangon, Myanmar, Nov. 8, 2014 – Boeing [NYSE: BA] and Air Mandalay Limited signed a memorandum of collaboration today in support of working together toward Air Mandalay’s fleet renewal efforts. The U.S. Ambassador to the Republic of the Union of Myanmar, Derek J. Mitchell witnessed the signing.

Boeing will assist Air Mandalay with its efforts to procure Next-Generation 737 airplanes through leasing channels in support of Air Mandalay’s expansion plan.

“This memorandum is an important step in our growth strategy,” said Adam Htoon, principal of Air Mandalay. “Due to the growth of tourism and business investment in Myanmar, air transportation has become an increasingly important contributor to both the nation’s economic growth and its infrastructure development. Besides, it boosts local travel, offers human resource development and job opportunities in the aviation industry to local communities. The country is looking to position itself as a major tourism destination capable of handling an increasing number of foreign visitors. The 737s will provide us with capabilities to support this critical national growth strategy.”

“We look forward to supporting Air Mandalay on its fleet expansion strategy, setting the foundation for a long and successful partnership between Air Mandalay and Boeing,” said Skip Boyce, President, Boeing Southeast Asia. “The Next-Generation 737 aircraft will provide Air Mandalay with market-leading efficiency, reliability and passenger comfort, allowing the airline to continue to prosper and grow in the region.”