AGL 38.00 No Change ▼ 0.00 (0%)
AIRLINK 213.91 Increased By ▲ 3.53 (1.68%)
BOP 9.42 Decreased By ▼ -0.06 (-0.63%)
CNERGY 6.29 Decreased By ▼ -0.19 (-2.93%)
DCL 8.77 Decreased By ▼ -0.19 (-2.12%)
DFML 42.21 Increased By ▲ 3.84 (10.01%)
DGKC 94.12 Decreased By ▼ -2.80 (-2.89%)
FCCL 35.19 Decreased By ▼ -1.21 (-3.32%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 16.39 Increased By ▲ 1.44 (9.63%)
HUBC 126.90 Decreased By ▼ -3.79 (-2.9%)
HUMNL 13.37 Increased By ▲ 0.08 (0.6%)
KEL 5.31 Decreased By ▼ -0.19 (-3.45%)
KOSM 6.94 Increased By ▲ 0.01 (0.14%)
MLCF 42.98 Decreased By ▼ -1.80 (-4.02%)
NBP 58.85 Decreased By ▼ -0.22 (-0.37%)
OGDC 219.42 Decreased By ▼ -10.71 (-4.65%)
PAEL 39.16 Decreased By ▼ -0.13 (-0.33%)
PIBTL 8.18 Decreased By ▼ -0.13 (-1.56%)
PPL 191.66 Decreased By ▼ -8.69 (-4.34%)
PRL 37.92 Decreased By ▼ -0.96 (-2.47%)
PTC 26.34 Decreased By ▼ -0.54 (-2.01%)
SEARL 104.00 Increased By ▲ 0.37 (0.36%)
TELE 8.39 Decreased By ▼ -0.06 (-0.71%)
TOMCL 34.75 Decreased By ▼ -0.50 (-1.42%)
TPLP 12.88 Decreased By ▼ -0.64 (-4.73%)
TREET 25.34 Increased By ▲ 0.33 (1.32%)
TRG 70.45 Increased By ▲ 6.33 (9.87%)
UNITY 33.39 Decreased By ▼ -1.13 (-3.27%)
WTL 1.72 Decreased By ▼ -0.06 (-3.37%)
BR100 11,894 No Change 0 (0%)
BR30 36,855 No Change 0 (0%)
KSE100 110,423 No Change 0 (0%)
KSE30 34,778 No Change 0 (0%)
Business & Finance

Boeing secures 24 737 MAX orders from investment firm 777 Partners

  • Miami-based 777 Partners, which has a stake in Canadian ultra-low-cost carrier Flair Airlines, said it plans to lease the 737-8s to its affiliated carriers.
  • The deal is expected to boost Boeing's position and provide the much-needed support towards a financial recovery after two fatal 737 MAX crashes triggered a 20-month safety ban on the jet.
Published March 12, 2021

Boeing Co said on Friday private investment firm 777 Partners has agreed to buy 24 737 MAX airplanes with an option to purchase a further 60.

Boeing's shares rose about 1.6% in premarket trading.

Miami-based 777 Partners, which has a stake in Canadian ultra-low-cost carrier Flair Airlines, said it plans to lease the 737-8s to its affiliated carriers.

The deal is expected to boost Boeing's position and provide the much-needed support towards a financial recovery after two fatal 737 MAX crashes triggered a 20-month safety ban on the jet.

"The 737-8 aircraft are a fantastic addition to our aviation portfolio and will enable our partners to leverage the jets' superior economic performance to deliver low fares for their passengers while reducing their carbon footprint," said 777 Partners founder Joshua Wander.

US airlines that had to park and retire aircraft during the coronavirus crisis are beginning to position their business for a recovery as vaccine distribution gains pace.

Ultra low-cost carriers, or ULCCs, are seen as the winners of the COVID-19 crisis as they offer a no-frills experience at low prices and charge heavily for extras like bags. ULCCs are pervasive in Europe's fragmented market but are yet to catch up in the United States.

Reuters exclusively reported on Wednesday that Boeing is close to a multibillion-dollar deal to sell dozens of its 737 MAX 7 jets to Southwest Airlines Co.

Alaska Airlines agreed in December to buy 23 737 MAX 9 jets and European budget airline Ryanair bought 75 jets.

The single-aisle 737-8 can fly 3,550 nautical miles, about 600 miles farther than its predecessor.

Comments

Comments are closed.