Boeing Wins Qatar Airways Order for 737 Max Planes

Boeing won a big order from Qatar Airways on Monday as the airline feuds with rival manufacturer Airbus. The Shares of Boeing surged on the orders, ending the day up 5.1% at $200.24. The aircraft manufacturer said the order is worth $34 billion at list prices, though airlines usually receive discounts, especially for such large orders.

At a White House ceremony on Monday, Qatar Airways CEO Akbar Al Baker signed a provisional order for 25 737 Max 10 jets, the largest model in the Max family, along with options to buy 25 more of the planes. Boeing CEO Dave Calhoun attended along with Commerce Secretary Gina Raimondo and Qatar’s ambassador to the U.S., Sheikh Meshal bin Hamad Al Thani.

The carrier also lined up as Boeing first customer for a freighter version of its newest jetliner, the 777X, as the airplane maker marked the official launch of the new air cargo plane.Qatar signed an order for 34 of the 777X, a giant, a twin-engine plane powered by General Electric, and options for 16 more of the jets.The airline also ordered two of current 777 freighter model. expects the passenger 777X to enter into service in late 2023, about three years behind schedule. is making a big bet on air cargo, a relatively 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. Last week, Boeing said cargo traffic rose 7% from pre-pandemic levels, driving record demand for its freighter planes.