TEL AVIV, June 11 (Reuters) -
* El Al Israel Airlines said on Sunday the first of 16 Boeing 787 Dreamliners it ordered for $1.25 billion will arrive in August.
* Starting in September the plane will fly to Europe and at the end of October it will fly to North America and Asia.
* The Dreamliners will gradually join El Al's all-Boeing fleet until 2020, replacing the airline's aging 747-400s and 767-300s.
* Boeing said the planes, with 282 seats, will save El Al up to 47 percent in fuel costs on its direct flights between Tel Aviv and New York in comparison with the 747s it now operates.
* "These planes are in addition to the new 737-900s purchased by the company, which are already operating on routes to Europe and are rejuvenating El Al's fleet," the airline's chief executive David Maimon said. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)