Boeing Co. (NYSE: BA), on Tuesday, confirmed that it landed another large order for its modified short-haul 737 aircraft at the Farnborough Airshow.
The Chicago-based company said that GE Capital Aviation Services, which is the commercial aircraft leasing and financing unit of General Electric (NYSE: GE), has committed to buy 75 737 MAX 8s and 25 Next-Generation 737-800s.
Although GE Capital Aviation Services has given a commitment to purchase the aircrafts, the deal is not yet firm as Boeing and GE Capital Aviation Services finalize the details of the agreement.
The deal, valued at $9.2 billion at list prices, if completed, would represent the second large order for 737s in as many days. On Monday, Boeing announced that Air Lease Corp. (NYSE: AL) ordered 60 737 MAX 8 and 15 737 MAX 9 aircrafts.
Boeing was expected to clinch some deals for short-haul aircrafts ahead of the airshow as the company continues to push the MAX model.
Ray Conner, President and CEO of Boeing Commercial Airplanes, said that GE Capital Aviation Services is a leader in the airplane leasing and financing industry with a successful track record of placing 737 with airlines worldwide. Conner further said that the GE Capital Aviation Services team understands the importance of having advanced, fuel-efficient airplanes to meet their customers needs. Connor added that the commitment from GE Capital Aviation Services confirms the value of 737 MAX in the marketplace.
BA shares initially rose on Tuesday but slipped later as the broad market fell sharply. At last check, BA shares were down 1% to $73.29 on volume of 3.14 million. The stock touched an intra-day low of $73.23.
Year-to-date, BA shares have fallen 0.11%, underperforming the S&P 500, which gained 6.49% in the same period.