Boeing Reels in $5.9 Billion MAX Orders at Dubai Air Show
November 19 2019 - 3:34AM
Dow Jones News
By Benjamin Katz
Boeing Co. (BA) booked orders for 50 of its crisis-hit 737 MAX
at this week's Dubai Air Show as the embattled plane maker picks up
important sales for the grounded aircraft.
Kazakhstan's Air Astana, already a customer for Airbus SE's
(AIR.FR) rival A320neo, said Tuesday that it has signed a letter of
intent for 30 MAX jets, marking a miniature coup for Boeing. The
commitment is valued at $3.6 billion.
The U.S. manufacturer also signed a firm order valued at $2.3
billion for 20 of the aircraft at the air show from an undisclosed
customer, comprising 10 orders for the 737 MAX 7 and 10 for the 737
MAX 10, according to a person familiar with the matter.
That order is expected to be announced at a separate ceremony in
the airline customer's home market.
The deals follow on from an agreement signed yesterday for 10
more MAX jets from SunExpress, a joint venture between Turkish
Airlines and Deutsche Lufthansa AG (LHA.XE).
The orders are critical for Boeing at a time when its
historically best-selling aircraft has been restricted from flying
after two fatal crashes led to its grounding globally, with sales
of the jet stalled since.
Still, the numbers are a far cry from deals secured by Airbus
this year for its own narrowbody, including a 100-jet deal with Air
Arabia PJSC (AIRARABI.DFM) announced on Monday.
As of the end of October, when the formal data was available,
Airbus had booked 542 net orders since the start of the year
against Boeing's net tally of 45.
Write to Benjamin Katz at Ben.Katz@wsj.com
(END) Dow Jones Newswires
November 19, 2019 03:19 ET (08:19 GMT)
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