Farnborough, England, September 4, 1996 - Philippine Airlines announced today that it has ordered seven Boeing 747-400 jumbo jets valued at approximately $1.18 billion.

The new 747s will be delivered beginning in mid-1998. They will be powered by General Electric CF6-80C2B1F engines.

Vice Chairman Mariano Tanenglian of PAL said "We believe our 747 fleet helps give us a competitive edge in passenger service, and, as you know, we operate in one of the world's most competitive markets.

"We look forward to significant growth over the next few years, and these new 747-400's will help us accommodate that growth," he added.

Boeing Commercial Airplane Group President Ron Woodard said "Orders from respected carriers like Philippine Airlines reinforce the 747's place as the flagship of the world's airlines. We're pleased to help PAL meet its future goals."

The first scheduled airline in Asia, PAL's current fleet includes 12 Boeing 747s and 12 Boeing 737s.