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Boeing gets order for 20 777s

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By Michelle Dunlop
Herald Writer
Published:
The Boeing Co. added an order for 20 of its 777 aircraft to its backlog this week.
The order comes from an unidentified customer, according to Boeing’s orders and deliveries Web site updated Thursday. The order is worth between $4 billion and $5 billion at list prices, depending on the model of 777, which also wasn’t disclosed. But airlines rarely pay list prices.
Boeing also reduced its total for 777 aircraft by four, a cancellation announced last week by El Al Israel Airlines. The transactions bring Boeing’s net order tally to 112 through May 4. The company is out to a much stronger start in terms of orders, compared to 2009. Boeing ended last year with a total of just 142 net commercial jet orders, because of the downturn in air traffic and delays in the company’s new 787 Dreamliner program.
But Boeing leads rival Airbus in jet orders this year. Airbus reported Wednesday that it has a net tally of 67 orders through the end of April.
Boeing Chief Executive Jim McNerney had hinted last month that the company had orders for the Everett-built 777 that hadn’t been announced. McNerney mentioned the orders to explain why the company announced it would boost 777 production next year. In the meantime, Boeing will temporarily slow production on the 777, beginning next month, a decision made last year.
“We feel comfortable … that the demand will support moving up the rate,” McNerney said, during the company’s quarterly conference call.
Boeing’s shares declined along with the rest of Wall Street Thursday, dropping $3.03 to close at $67.97.
Story tags » Economy, Business & FinanceBoeing777

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