THE BOEING COMPANY

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Delayed Nyse  -  04:00 2022-07-01 pm EDT
139.84 USD   +2.28%
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International Airlines Group Finalizes Agreement for Up to 150 737 Jets; Purchase includes firm order and options for 737-8-200 and 737-10 airplanes; IAG selects the high-capacity and largest 737 citing airplane's additional seats and environmental performance

05/20/2022 | 11:29am EDT

SEATTLE- Boeing [NYSE: BA] and International Airlines Group (IAG) today announced an order for a combined total of 50 737-8-200s and 737-10s, plus 100 options.

'The addition of new Boeing 737s is an important part of IAG's short-haul fleet renewal. These latest generation aircraft are more fuel efficient than those they will replace and in line with our commitment to achieving net zero carbon emissions by 2050,' said Luis Gallego, IAG's chief executive.

The 737-8-200 will enable IAG to configure the airplane with up to 200 seats, increasing revenue potential and reducing fuel consumption.

The largest model in the family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 miles. The fuel-efficient jet can cover 99% of single-aisle routes, including routes served by 757s.

'With the selection of the 737-8-200 and larger 737-10, IAG has invested in a sustainable and profitable future, as both variants will significantly lower operating costs and CO2 emissions,' said Stan Deal, president and CEO of Boeing Commercial Airplanes. 'Today's agreement for up to 150 airplanes, including 100 options, is a welcome addition of the 737 to IAG's short-haul fleets and reflects our commitment to support the Group's continued network recovery and future growth with Boeing's unrivalled family of airplanes.'

The 737 incorporates the latest-technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 family of airplanes is on average 14% more fuel-efficient than today's most efficient Next-Generation 737s and 20% more efficient than the original Next-Generation 737s when they entered service.

Today's announcement finalizes a commitment made by IAG for the 737 at the 2019 Paris Air Show and is subject to approval by IAG shareholders.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.

Contact

Keelan Morris

Boeing Communications (London)

Mobile + 44(0)208 235 5664

keelan.j.morris@boeing.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 1.13% 108.84 Delayed Quote.-23.61%
THE BOEING COMPANY 2.28% 139.84 Delayed Quote.-32.09%
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Financials (USD)
Sales 2022 75 137 M - -
Net income 2022 1 088 M - -
Net Debt 2022 41 151 M - -
P/E ratio 2022 89,9x
Yield 2022 -
Capitalization 82 734 M 82 734 M -
EV / Sales 2022 1,65x
EV / Sales 2023 1,25x
Nbr of Employees 142 000
Free-Float 58,4%
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Number of Analysts 20
Last Close Price 139,84 $
Average target price 217,32 $
Spread / Average Target 55,4%
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Managers and Directors
David L. Calhoun President, Chief Executive Officer & Director
Nicole R. Nason Vice President-Federal Affairs for Aviation
Brian J. West Chief Financial Officer & Executive Vice President
Lawrence W. Kellner Non-Executive Chairman
Gregory L. Hyslop Chief Engineer, EVP-Engineering, Test & Technology
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