Air Pacific has ordered three Boeing 787-9 Dreamliners, Boeing Co. officials said Monday. The order is valued at $580 million in list prices, but customers typically get significant reductions. Air Pacific also is taking three purchase rights for the same model, which eventually would bring the airline’s fleet to 11 Dreamliners. Fiji-based Air Pacific plans to replace its twin-aisle fleet of two Boeing 747-400s and one Boeing 767-300ER, which serve such locations as the United States, Japan and near-Pacific destinations.
Continental Air receives 737-900
Continental Airlines took delivery of its first Boeing Co. 737-900 Extended Range jet Monday. The carrier is the first in the Americas to operate the latest model of Boeing’s popular single-aisle jet. Continental has 26 of the Renton-built 737-900 Extended Range planes on order and expects delivery of two or three 737s monthly.
Facebook IPO unlikely in 2008
The hot Internet social networking company Facebook probably won’t try to go public this year, Chief Executive Mark Zuckerberg said in an interview. “I think what I can announce is that it’s highly unlikely that we will go public in 2008,” Zuckerberg told the CBS news program “60 Minutes” in an interview that aired on Sunday. Zuckerberg said the company could make an initial public offering later. “When going public makes sense to do, we’ll do that. Maybe that’s two years out. Maybe it’s three years out,” he said. Microsoft Corp. paid $240 million in October for a 1.6 percent stake in Facebook, valuing the startup at $15 billion. Facebook reportedly has turned away offers to buy the Palo Alto, Calif.-based company outright, stoking speculation that it is preparing for an eventual IPO.
EU investigating Microsoft again
European Union regulators said Monday they were again investigating software giant Microsoft Corp., this time over whether it abused its market position by squeezing out competing Internet browsers and software rivals dependent on Microsoft programs. The European Commission opened two formal probes, the first move against the company since a court four months ago backed the EU in a long-running legal battle over Microsoft’s actions in using its ubiquitous Windows operating system to elbow into new software markets. Microsoft said it would cooperate fully with the commission’s investigation and provide any information necessary.
Fidelity Magellan opens to investors
For the first time in a decade, new investors will be able to put money into a mutual fund that helped fuel Fidelity Investments’ rapid growth in the 1980s and ’90s, but has recently seen many retirement-age investors withdraw their cash. The nation’s largest mutual fund company said Monday it will reopen its $44.8 billion Magellan Fund to new investors effective today. Boston-based Fidelity closed Magellan to new accounts on Sept. 30, 1997, after a run of market-beating returns in the 1980s by star money manager Peter Lynch.
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