Boeing wins $9.1 billion order from Emirates

boeing_gi.top.jpgCompany executives signed contracts for the deal at the Farnborough International Airshow in Hampshire, England. By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- Boeing secured an order for 30 of its 777 jets for $9.1 billion from Emirates Airlines, the companies announced Monday, as the commercial aircraft maker continues to bounce back from the recession.

Boeing (BA, Fortune 500) shares rose 1.9% in early trading.

The Dubai-based international airline already boasts the world's largest fleet of 777 jets.

"Emirates has played an important role in the success of the 777 with its strong support and valuable feedback over the years," said Jim Albaugh, president and chief executive of Boeing Commercial Airplanes. "Today's order underscores the airline's confidence in the airplane which forms the backbone of its fleet."

Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline said the airplane's reliability, performance and operating economics have made the international airline a loyal customer of the 777 since it received the first delivery in 1996.

In a separate statement, Boeing's Albaugh said the market for commercial airplanes is rebounding and Boeing had more than 3,304 unfilled orders for commercial aircrafts as of last month.

"The market is clearly coming back and I feel very confident about how we are positioned to regain -- and retain -- leadership in this business," he said.

The company forecasts a $3.6 trillion market for new commercial airplanes over the next 20 years.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,079.57 -42.44 -0.25%
Nasdaq 4,557.70 -11.92 -0.26%
S&P 500 1,996.74 -3.38 -0.17%
Treasuries 2.33 -0.03 -1.14%
Data as of 7:17pm ET
Company Price Change % Change
Apple Inc 102.25 0.12 0.12%
Bank of America Corp... 16.01 -0.19 -1.17%
Facebook Inc 73.86 -0.78 -1.04%
Pfizer Inc 29.38 -0.11 -0.37%
Intel Corp 34.65 -0.14 -0.40%
Data as of 4:02pm ET

Sections

The CEO of American International Group, Robert Benmosche, says he is leaving the company earlier than expected because of a terminal cancer diagnosis. More

France's new economy minister is reportedly considering loosening strict government regulations that enforce 35-hour work weeks. More

Whether you've got wanderlust or an airline grievance, here are some apps to pack onto your phone. More

Whether you've got wanderlust or an airline grievance, here are some apps to pack onto your phone. More

Five CNNMoney readers share stories about saving that you can learn from: What they would do differently if they had another chance. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.