Boeing and Air Canada announced an agreement to renew the airline’s wide-body fleet with up to 36 Boeing 777s and up to 60 Boeing 787 Dreamliners.

Air Canada will use the airplanes to modernize its existing fleet and improve operating efficiencies.

According to a press release, the agreement includes firm orders for 18 777s, plus purchase rights for 18 more, in a yet-to-be-determined mix of the newest 777 models: the 777-300ER, the 777-200LR Worldliner (the longest range airplane in the world), and the 777 Freighter. Deliveries of the 777s begin next year.

The agreement also includes firm orders for 14 787s, a mix of 787-8s and 787-9s, plus options and purchase rights for an additional 46 airplanes. Air Canada’s first 787 will be delivered in 2010.

The firm orders are valued at approximately $6 billion at list prices. The order is subject to several conditions including final documentation. The companies expect to finalize the agreement by mid year.

“Our decision to modernize our fleet with the 777 and 787 Dreamliner will move Air Canada into a clear leadership position among North American international carriers with the world’s two newest and most efficient twin-engine, long-haul airplanes,” said Robert Milton, president and chief executive officer of ACE Aviation Holdings, Inc., the parent company of Air Canada. “The superior customer comfort and operating economics of these aircraft will put us in the company of the leading European, Middle East and Asia Pacific carriers.”

The 777 and 787 are uniquely suited to meet Air Canada’s current route structure and growth plans, which include long-range, non-stop routes for both passengers and cargo, with an increasing emphasis on growing markets in Latin America and China.

Chris is a staff writer for Murdok. Visit Murdok for the latest ebusiness news.