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GPA AND BOEING REACH FURTHER AGREEMENTS

 SEATTLE, Jan. 22 /PRNewswire/ -- Boeing Commercial Airplane Group today confirmed that it has agreed to a delivery restructuring program with the Irish leasing company, GPA Ltd.
 The agreement was reached in 1992 and was conditioned on GPA's successful financial restructuring. Under its terms, Boeing will move 26 firm aircraft from 1993-1994 delivery positions into 26 previously defined "reconfirmation" delivery positions in 1997. The 26 reconfirmation positions will not be replaced by GPA at this time. The airplanes which were in a "reconfirm" status had been included in the Boeing announced order list but had not been included in the company's financial backlog. While they will be removed from the announced order list, the deletion will not affect the company's financial backlog.
 "We are confident that GPA will remain a valued customer of Boeing. This restructuring plan should enable the company to resolve its recent financial difficulties," said Richard R. Albrecht, Boeing Commercial Airplane Group executive vice-president.
 Last September, Boeing and GPA said they had agreed to the delivery delay of 38 airplanes, the bulk of which were subject to reconfirmation. Today's announcement represents a different set of airplanes and has already been reflected in previously announced rate reductions.
 These 26, which include 11 737s, 7 757s and 8 767-300ERs, constitute about one and a half percent of Boeing's unfilled announced orders, which at the end of 1992 totalled 1,468 airplanes.
 -0- 1/22/93
 /CONTACT: Kirsti Dunn of Boeing Commercial Airplane Group, 206-237-1713/
 (BA)


CO: Boeing Commercial Airplane Group; GPA Ltd. ST: Washington IN: AIR SU:

LM -- SE004 -- 7913 01/22/93 12:36 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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