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Boeing Said Poised to Win $3.5 Billion in Orders for New Planes

Download: Printable PDF Date: 11 Jul 2016 01:53 categories:
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Boeing Said Poised to Win $3.5 Billion in Orders for New Planes - Manufacturer publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes
Source: Bloomberg

Boeing Co. is in discussions with Spain’s Air Europa Lineas Aereas and German tour operator TUI AG for orders totaling $3.5 billion at list prices, according to people familiar with the planemaker’s plans.

Air Europa is in line for 20 737 Max jets valued at $2.2 billion, with TUI slated to convert 10 options on the upgraded narrow-body into firm orders, people familiar with the matter said. TUI is also poised to purchase an additional 787 Dreamliner, bringing its order to $1.3 billion. Buyers typically negotiate discounts from list prices.

The transactions are expected to be announced this week at the Farnborough International Airshow, the bi-annual trade show where aerospace and defense manufacturers huddle with customers outside of London to hobnob and strike deals. Analysts are expecting a slower flurry of multibillion-dollar aircraft orders this year, with neither Boeing nor Airbus Group SE expected to unveil new models and as economic uncertainty clouds much of the globe.

Boeing had previously netted 256 orders for the new Max version of its best-selling 737, the company’s largest source of profit and a popular workhorse for airlines plying shorter routes. The Max, featuring new engines and more aerodynamic wings, is slated to debut next year.

Air Europa boasts one of the youngest fleets in Europe, with an average age of four years, according to its website. TUI, Europe’s largest tour operator, has been investing in its mass-tourism business as travelers seek the safety of organized trips amid terror attacks in the region.

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