SEATTLE, Sept. 5 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) and Aeroflot, Russia's flagship carrier based in Moscow, today announced they have finalized an order for 22 Boeing 787-8s. The order was contingent upon Aeroflot shareholder approval, which was granted yesterday. The order is valued at $3.6 billion at list prices. Aeroflot said the 787 will upgrade its existing widebody fleet, as well as provide for fleet growth to meet increased demand for air travel. "The 787 is an excellent match for many of our requirements thanks to its efficiency, operational performance and passenger comfort. The 787 will open new market opportunities as we further modernize our fleet and expand our international reach," said Valery Okulov, Aeroflot general director. Aeroflot did not announce an engine selection for its 787s. "Throughout the process we worked closely with Aeroflot to understand its requirements and to demonstrate how the 787 meets those requirements," said Craig Jones, vice president of Sales for Russia and Central Asia, Boeing Commercial Airplanes. "The 787 will reinforce Aeroflot's leadership position. It will be a tool for profitability and help Aeroflot offer an all-new passenger experience to its customers." Boeing developed the 787 for the mid-sized jetliner market, estimated at 3,500 aircraft over the next 20 years. Fifty percent of the 787's primary structure is made of advanced carbon composites which allow higher cabin humidity, a lower cabin altitude and the largest windows in the industry. High-efficiency engines combined with a lighter airframe and improved aerodynamics will enable the 787 to produce seat-mile costs normally associated with much larger aircraft. In addition to bringing big-jet ranges to mid-size airplanes, the 787 will provide airlines with unmatched fuel efficiency, resulting in exceptional environmental performance. The airplane will use 20 percent less fuel for comparable missions than any similarly-sized airplane. It will also travel at speeds similar to today's fastest widebodies, Mach 0.85. Also, airlines will enjoy more cargo revenue capacity. Boeing has logged 706 orders from 48 customers for the 787 Dreamliner.