A Boeing 777X airplane flies above the Boeing Everett Factory
David Ryder | Reuters
Boeing won a big order from Qatar Airways on Monday as the airline feuds with rival manufacturer Airbus.
Boeing shares surged on the orders, jumping by more than 4% in afternoon trading.
The order is worth $34 billion at list prices, Boeing said, though airlines usually receive discounts, especially for such large orders.
Qatar signed a provisional order for 25 737 Max 10 jets, the largest model in the Max family. It also signed an option to buy 25 more of the planes. The carrier also lined up as Boeing‘s first customer for a freighter version of its newest jetliner, the 777X.
During a ceremony at the White House on Monday, Qatar signed an order for 34 of the 777X, a giant, twin-engined-plane, powered by General Electric, as well as 16 options. Boeing expects the passenger 777X to enter into service in late 2023, about three years behind schedule.
Air cargo has been a relative bright spot in the pandemic. A web of travel restrictions and Covid cases drove down international travel, depriving cargo customers of belly space in passenger planes. Combined with a series of port snarls, air freight demand and prices surged over the past year.
Boeing last week said cargo traffic rose 7% from pre-pandemic levels last year, driving record demand for its freighter planes.
Rival Airbus last year said it was launching a freighter version of its A350 widebody plane.
The Max deal with Qatar comes less than two weeks after Airbus said it ended its contract with Qatar Airways for 50 A321neo planes, a rival to the Max jets. Airbus and Qatar Airways have been in a dispute for months over cracked paint and other issues on its A350 planes.
