NEW YORK – Boeing Co. (BA) is selling about $4 billion worth of new jets to two companies that lease planes to airlines, according to agreements announced Tuesday.
GE Commercial Aviation Services (search), a unit of General Electric Corp. (GE), said Tuesday it has agreed to buy 20 737 aircraft from Boeing Co., worth $1.1 billion at list prices. It also identified itself as the customer for 12 Boeing 737s ordered last year that were attributed to an unidentified customer.
Separately, Chicago-based Boeing announced that International Lease Finance Corp. (search) has placed a firm order for 20 737-700s/800s, six 777-300 Extended Range planes and two 777-200 Extended Range aircraft, together valued at nearly $2.9 billion at list prices.
The company said the 777 deliveries begin late next year and extend into 2008. The 737s will be delivered in 2008.
This order brings Los Angeles-based ILFC's total 737 orders to 417, with 78 remaining to be delivered, and total 777 orders to 75, with 27 future deliveries. ILFC, a subsidiary of insurance company American International Group which leases jets mostly to commercial airlines outside of the United States, has ordered 678 Boeing jets since 1977.
Stamford, Conn.-based GE Commercial Aviation said all 12 planes from its previous order have been placed with airlines and will be delivered starting late this year and throughout 2006.
The 20 new airplanes are scheduled for delivery from 2006 to 2008, and the company said it already has commitments from airlines for six of the planes.
"The next-generation 737 is popular among the world's airlines and we have been quite successful in placing the airplane with operators," said Henry Hubschman, president and CEO of GE Commercial Aviation, in a prepared statement.
GE Commercial Aviation has directly ordered 301 Boeing jetliners and currently has more than 600 Boeing airplanes in its fleet.
Shares of Boeing fell 40 cents to $64.23 on the New York Stock Exchange (search). GE shares rose 1 cent to $36.56, while AIG shares fell 15 cents to $55.35, both on the Big Board.