Boeing [NYSE:BA] and Ruili Airlines today announced the signing of a Memorandum of Understanding for 20 737 MAX airplanes at the 2017 Paris Air Show.
The 737 MAX 10 is aimed at the biggest part of the commercial airline market - single-aisle aircraft for medium-range flights - and scooped up 326 orders worth almost Dollars 40 billion at list prices as the jet promises even more fuel economy thanks to improvements to aerodynamics and engine performance.
The 737 Max 9 is the newest version of Boeing's 737 airliner, which has been in production in some form for 40 years.
Boeing Commercial Airplanes President and CEO Kevin McAllister said in a statement, "Airlines wanted a larger, better option in the large single-aisle segment with the operating advantages of the 737 MAX family". "Yes", said Airbus COO of Commercial Customers, John Leahy in comments reported by Reuters, Thursday.
Airlines around the world have had an insatiable demand for single-aisle aircraft like the Airbus A320 and Boeing 737 that fly short and medium haul routes around the globe. Toulouse, France-based Airbus still plans to hand over about 30 more planes to customers this year than in 2016, which means the company will need to accelerate work in the second half, he said.
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Boeing's Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. With the latest advances in engines and aerodynamics, they promise significant fuel savings to airlines, which have responded with hundreds of orders for single aisle aircraft that are the workhorses of their fleets.
In a late flurry on Thursday morning, Airbus signed deals for nearly 100 aircraft, with AirAsia and Iranian carriers Zagros Airlines and Iran Airtours. The aerospace giant received commitments to sell a total of 361 MAX 10s, including 147 new orders and 214 conversions from other models. "We find it hard to believe that Airbus will deliver the rest of their A380s in backlog". "They have the resources, the skills, the national ambitions and a huge domestic market", he said, while adding that it was also crucial to get export orders.
This new order, which is valued at more than 1.1 billion US dollars at current list prices, will, together with the existing firm order for 100 Max 200s, allow Ryanair to grow its traffic to 200 million customers per annum by 2024. One of the first leasing companies to order any member of the 737 Max family, Air Lease now counts 130 Max jets in its orderbook. "You just can't do it", Leahy said at an Airbus press event.
The 737 MAX is the fastest-selling airplane in Boeing history.
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