Boeing Co.(BA) said Tuesday it has finalized a firm order from Indonesia's largest private airline Lion Air for 230 airplanes valued at $22.4 billion at list prices, making it the largest ever commercial airplane order for the aircraft maker.
The deal, announced last November in Indonesia in the presence of U.S. President Barack Obama, also includes purchase rights for an additional 150 airplanes.
Notably, Boeing's arch rival Airbus had alleged earlier that the order was secured by applying political pressure by the U.S.
The order calls for 201 737 MAXs and 29 Next-Generation 737-900ERs. Rusdi Kirana, Lion Air's Founder and President Director said, "We're excited to be the first airline in Asia to fly the 737 MAX and to be the global launch customer of the 737 MAX 9."
Boeing decided to revamp the top-selling 737 last July in response to the plan by Airbus, a unit of European Aeronautic Defence and Space Co. or EADS NV (EADSY.PK,EADSF.PK), to revamp its A320.
The new 737 MAX competes with the Airbus A320neo in the narrow-body aircraft segment. The 737 MAX is due to enter service in 2017, while the A320neo, which also features new engines, is due to enter service in 2016.
Including the latest order, Boeing has orders and commitments for more than 1,000 airplanes for 737 MAX from 15 customers and the Next-Generation 737 family has won orders for more than 6,600 airplanes.
In comparison, Airbus' website states that in the first year after its launch in December 2010, some 1,420 orders and commitments had been booked for the A320neo, making it the fastest-selling commercial jetliner ever.
Both companies are coping with issues relating to safety in the wake of factory and design flaws hurting Boeing's 787 and 747-8 programs, while EADS has had trouble with its A380 and A350 - all these aircraft touted as newer and more fuel-efficient with good demand from customers. The ever-increasing fuel costs have tilted customers' preference towards more fuel-efficient aircraft.
In late January, Boeing announced a firm order for 122 planes worth $11.4 billion, including 100 737 MAX from Norwegian Air Shuttle ASA, with Norwegian being the European launch customer for 737 MAX. The Oslo-based low cost airline also signed an agreement for 100 A320neo from Airbus. The total Airbus - Boeing agreement is the largest ever in European aviation history. The order also includes additional purchase right of 150 aircraft from both manufacturers.
Lion Air's recent order beats the record of a previous firm order from Southwest Airlines Inc. (LUV) for 150 fuel-efficient 737 MAX airplanes and 58 Next-Generation 737s, total worth nearly $19 billion.
Boeing shares closed Monday's trading at $74.85, down $0.10 or 0.13 percent.
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