Boeing Scores First 737 Max Order Since Airplane Crashes

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It’s been a rough several months for Boeing, the world’s largest aerospace company. Two fatal crashes caused Boeing’s 737 Max jets to be grounded since March.

Things may now be looking up for the company as it just won its first 737 Max order since the deadly crashes. Shares of Boeing’s stock subsequently sailed over 5% on the news.

The orders are worth $24 billion at list prices according to the company, however, airlines often receive discounts.
International Consolidated Airlines Group (IAG), signed a letter of intent at the Paris Air Show to order 200 Boeing 737 Max planes. The company will not post the planes on its monthly order tally until the agreement is finalized.

IAG will use the jets order, which includes the 737 Max 8 and the larger Max 10 that Boeing is developing, for short-haul flights across its airlines. This includes Aer Lingus and low-cost carriers Vueling and Level.

“We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months having received approval from the regulators,” remarked IAG CEO Willie Walsh.

Disclaimer: We have no position in Boeing Co. (NYSE: BA) and have not been compensated for this article.