Boeing Unveils Next-Gen 777X, Nabs Mega-Orders

by Christopher Freeburn | November 18, 2013 9:17 am

Boeing Unveils Next-Gen 777X, Nabs Mega-Orders

Shares of Boeing (BA[1]) surged more than 3% in Monday pre-market trading landing huge deals for its new long-haul passenger jet[2] from two Middle Eastern airlines.

The head of Qatar Airways said that his company teamed up with Emirates Airlines during negotiations with the aircraft giant. He indicated that the strategy had proven “very successful” and the two companies might partner again in future deals. The two airlines placed orders worth almost $100 billion for Boeing’s new 777X jet, which debuted at the Dubai Air Show, the Wall Street Journal noted.

Qatar Airways ordered 50 777X jets, worth about $19 billion, while Emirates Airline signed a deal to buy 150 777X planes for $76 billion.

Boeing also landed a deal with Etihad Airways to purchase 25 777X planes at the Dubai Air Show.

The 777X plane is seen a successor to Boeing’s iconic four-engine 747, which dominated international air travel for decades[3], but which is now losing favor with airlines.

Boeing had planned to build the 777X in the Seattle area, but its unions recently voted down a contract the company had warned was critical to keep the plane’s production in the region[4].

More Boeing Headlines:

Endnotes:
  1. BA: http://studio-5.financialcontent.com/investplace/quote?Symbol=BA
  2. huge deals for its new long-haul passenger jet: http://online.wsj.com/news/articles/SB10001424052702304439804579205660509806176
  3. dominated international air travel for decades: http://investorplace.com/2013/10/days-may-numbered-boeing-747/
  4. had warned was critical to keep the plane’s production in the region: http://investorplace.com/2013/11/boeing-threatens-pull-777x-seattle-labor-dispute/
  5. GE Benefits Big Time From BlockBuster Boeing 777X Orders: http://investorplace.com/2013/11/ge-benefits-big-time-blockbuster-boeing-777x-orders/#.UoolC5G1Kf0
  6. Yet Another Battery Bummer for Boeing: http://investorplace.com/2013/11/yet-another-battery-bummer-boeing/
  7. Boeing, Airbus Bicker Over Seat Width: http://investorplace.com/2013/11/boeing-airbus-bicker-seat-width/

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