Boeing Company (NYSE:BA) is on a roll with new orders. After recently landing a $18 billion plus deal at the Dubai Air Show, the company has announced it has received a massive order for Boeing jets from Indonesia’s largest domestic airline, Lion Air.
The sale of 230 short-haul 737 jets, worth $21.7 billion, is the largest commercial order in Boeing’s history, toppling a previous record set just days ago as the industry taps in to relentless demand in emerging economies.
The new order is an intention to purchase rather than a firm order. First announced by the White House, it also includes an option for another 150 aircraft worth an estimated $14 billion The US administration also announced a $2.4 billion order by Singapore Airlines for eight 777 aircraft.
Lion Air of Indonesia is Boeing’s largest single-aisle jet customer. Lion Air intends to buy 201 of the 737 Max and the remainder in other 737 models. The order is thought to be part of 600 commitments for the 737 Max that Boeing has already touted. The aircraft-maker wants to turn those commitments into firm orders and garner more interest to reach a target of 1,000 orders by the middle of next year.
Boeing is an American multinational aerospace and defense corporation, founded in 1916 by William E. Boeing in Seattle, Washington. Boeing has expanded over the years, merging with McDonnell Douglas in 1997. Boeing Corporate headquarters has been in Chicago, Illinois since 2001.
Boeing shares were trading at 65.80, down 0.81% at 2:53pm ET today.