As the Farnborough International Airshow entered its third day, Boeing (NYSE:BA) continued its impressive stream of order announcements and confirmations today.
The largest piece of news came surrounding a number of contracts between it and Qatar Airways. The two finalized an order valued at $18.9 billion at list prices for 50 777-9X planes, which was first announced in November. (Aircraft buyers often negotiate to pay less than list prices.) The big news came from the announcement Qatar Airways has also agreed to a commitment for the purchase rights of 50 additional 777-9X planes. If exercised, that would double the order.
"The Boeing 777 is the backbone of our fleet and is highly amenable to the standards Qatar Airways upholds," noted the CEO of Qatar Airways, His Excellency Mr. Akbar Al Baker, in the announcement. "We look forward to building on our legacy with the next-generation 777-9X."
In addition, Qatar Airways also announced the intention to buy four 777 Freighters, with the option to buy four additional planes. The total of this agreement would stand at $2.4 billion at list prices if all eight planes were purchased.
A combination of both the 777-9X and 777 Freighter orders would have a total value greater than $40 billion in if all the options were ordered.
Boeing also revealed it and China-based Hainan Airlines are working toward finalizing the order for 50 737 MAX 8 planes, which would be valued at $5.1 billion at list prices. It must be approved by Chinese governmental authorities, but the Boeing press release noted this order reaffirmed Hainan had a "preference for an all-Boeing single-aisle fleet."
Finally Boeing revealed two smaller orders today: the finalization of an order between it and MG Aviation Limited for two 787-9 Dreamliners for $499 million at list prices, and the order placement for two 737-700Cs for $152 million at list prices by Air Algerie.
The Farnborough Airshow has been an eventful three days for Boeing, as its finalization of previous orders as well as the announcement for new ones -- and the possibility of additional orders -- now stands at a total of more than $60 billion (at list prices) following announcements Monday and Tuesday.
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