El Al To Buy, Lease 15 Boeing 787s

El Al has signed a memorandum of understanding to buy and lease 15 new Boeing 787 Dreamliner aircraft in its biggest ever plane order.

El Al - which has an all-Boeing fleet - said it was examining various options to finance the purchase. A final agreement must be signed by October 30 or another agreed-upon date, it said in a statement to the Tel Aviv Stock Exchange.

Israel's flag carrier last month said it had opened talks with Boeing to buy and lease 787-8 and 787-9 aircraft for delivery between the first half of 2017 and 2020.

The planes will replace a fleet of 747-400 and 767 aircraft and will operate on medium- and long-haul routes, including lucrative North American and Asian destinations.

El Al said the mix between buying and leasing the aircraft will be determined when the deal is agreed.