Aerospace and defense giant Boeing Co. (BA) said Monday that Chinese airline Air China has committed to buy 60 Boeing 737 aircraft, including Next-Generation 737 and 737 MAX airplanes. Once finalized, the commitment will be valued at more than $6 billion at current list prices.
Ihssane Mounir, vice president of Sales and Marketing, Northeast Asia, Boeing Commercial Airplanes, said, "Our long-standing and productive partnership with Air China dates back to the airline's beginning and we are proud the 737 has been part of their success. We are excited to see that the 737 family will play a significant role in Air China's continued success."
Boeing will post the order on its Orders & Deliveries website once all contingencies are cleared. The Boeing 737 currently has 2014 net orders of 1,019 aircraft through December 16, 2014.
The 737 MAX is a new-engine variant of the world's best-selling Boeing 737 airplane and builds on the strengths of Next-Generation 737. The plane incorporates the latest technology CFM International LEAP-1B engines, advanced technology winglets, and other improvements.
The 737 MAX will be 14 percent more fuel-efficient than the Next-Generation 737s - and 20 percent better than the original Next-Generation 737s when they first entered service. The 737 MAX 8 will have an 8 percent per seat operating cost advantage over the A320neo aircraft from French aerospace giant Airbus Group N.V. (EADSF, EADSY).
Air China is China's exclusive national flag carrier for civil aviation and a member of the Star Alliance. As of December 31, 2013, Air China and its holding companies own 497 aircraft, featuring Boeing and Airbus, with an average age of 6.33 years.
BA closed Friday's trading at $126.23, up $0.56 or 0.45 percent on a volume of 7.68 million shares.
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