Wednesday, March 30, 2011

Boeing (BA) Sells Ten 777s to GE (GE)

The airplane leasing unit of General Electric (NYSE:GE) has acquired 10 Boeing (NYSE:BA) 777s, according to Boeing.

List price of the overall deal would be $2.8 billion, although normally discounts are part of these types of transactions.

Boeing spokesman Tim Bader said the order by GE Capital Aviation Services was completely new and had not been previously listed.

The new order means GECAS has ordered a total of 53 777s. Most have been delivered, though it is still waiting for three more 777-300ERs ordered in 2000, as well as two more 777 freighters ordered in 2006.

Before the latest order, Boeing had a total of 91 deliveries of the 777 pending.

The 777-300ER carries 365 passengers. Airlines use the plane on high-density, long-haul routes.

Boeing was trading at $74.08, up $0.46, or 0.62 percent, as of 1:32 PM EDT. General Electric was trading at $20.18, up $0.32, or 1.61 percent.


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