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Boeing gets 20-jet order
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September 25, 2001: 7:33 p.m. ET
Company to provide 737s, 767s, but does not identify any customers
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NEW YORK (CNNfn) - Boeing said Tuesday it is preparing to provide 20 new jets to an unspecified customer, worth more than $1 billion at list prices.
The company said it received orders for 11 737 jets and nine 767 jets, but did not release the identity of the buyer or buyers. Four of the 737s replace a previous order for four 767s.
Boeing declined to say whether the orders represented sales or leases and also declined to say when the jets would be delivered.
The orders boost Boeing's order book for 2001 to 232 gross orders, or 180 orders net of cancellations and conversions, the company said.
Boeing (BA: Research, Estimates) lists the four members of the 737 family at an average of $55 million per plane, while the 767 carries a sticker price of about $120 million per plane. But Boeing's customers typically receive significant discounts from list prices.
Boeing CEO Phil Condit expects the aircraft maker to remain profitable despite the sharp decline in demand for new aircraft in the wake of this month's terrorist attack, according to a published report.
Last week, Boeing announced a plan to cut up to 30,000 jobs in response to the slowdown in the air transport industry after the Sept. 11 terrorist attacks.
The company has said it will do whatever it can to allow customers to take delivery of ordered jets, even if it means arranging the financing and carrying the aircraft on its own balance sheet.
Boeing's Seattle-based commercial jet unit has announced deliveries will fall below forecasts for 2001 and 2002 and could continue to slide into 2003.
In 2002 Boeing projects just more than 400 deliveries, down from a previous forecast of 510-to-520, with the downward trend likely to continue in 2003.
Boeing expects to deliver as few as 500 new jetliners in 2001. 
-- from staff and wire reports
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Boeing
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