December 19, 2016 / 8:19 PM / 2 years ago

Argentina's Aerolineas to buy 11 new Boeing 737 MAX aircraft

BUENOS AIRES, Dec 19 (Reuters) - State-run airline Aerolineas Argentinas said on Monday it will buy 11 new Boeing 737 MAX aircraft and nine of the U.S.-based company’s 737-800 NG planes in a deal based on revising a sales contract signed by the previous government.

President Mauricio Macri took office a year ago promising to reduce government spending. The previous administration had signed a contract with Boeing to buy 20 737-800 NGs, but no payments or deliveries were made under that deal.

“Aerolineas will be the first operator in Latin America to have a 737 MAX, which is a new plane globally,” the airline’s finance chief Pablo Miedziak told Reuters after signing the new contract with Boeing’s vice president for sales in Latin America Van Rex Gallard.

The executives said the price that Aerolineas Argentina will pay for the new planes was confidential.

Miedziak said that state subsidies received by Aerolineas Argentinas this year were cut to $300 million, less than half of the $678 million in subsidies that the company got on average over each of the previous eight years.

He said that the airline is increasing its capacity by replacing planes with a capacity of 128 seats for new ones that can seat 170 passengers. (Reporting by Eliana Raszewski, writing by Hugh Bronstein; Editing by Alan Crosby)

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