Boeing's stock extends bounce after receiving additional order for 30 737 MAX jets from 777 Partners.
Boeing and 777 Partners today announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners' commercial aircraft portfolio to a total of 68 737 MAXs, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.
"We're delighted to be able to announce the almost doubling in size of our order with Boeing," said Josh Wander, managing partner of 777 Partners. "We have long been confident in the economics of the 737 MAX family but we are especially excited about the 737-8-200 variant which represents the bulk of our additional orders. We're confident that this aircraft will be the hallmark ULCC/LCC asset, particularly in the sub-200 seat market. As travel demand returns, 777 has accelerated our quest for efficiencies in both operating cost and carbon footprint at our operating carriers. . In these areas the 737-8 is compelling and the 737-8-200 is simply unrivalled."
The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners' affiliated airlines. Every 737 MAX features a passenger-pleasing Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.
"We greatly appreciate 777 Partners for their trust in our products, including repeat orders for the 737 MAX and expanding their fleet to include the high-capacity 737-8-200 model," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. "777 Partners is enabling growth for its affiliated low-cost carriers by leveraging the 737 family's flexibility, reliability and efficiency to serve passengers for years to come."
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