Dec. 6 (Bloomberg) -- Boeing Co., the world's second-largest maker of commercial aircraft, won an order from Deutsche Lufthansa AG for 20 of the planned 747-8 passenger planes, worth $5.5 billion at list prices, dealing another blow to European rival Airbus SAS.

The U.S. planemaker will deliver the first of the 400-seat aircraft in 2010, Lufthansa, Europe's second-biggest airline, said in a statement today. The airline also placed a smaller order for seven Airbus A340-600s, to be delivered in 2008 and 2009. Both orders together are worth $6.9 billion, the carrier said.

Boeing, based in Chicago, has sold 49 freighter versions of the 747-8 since introducing the redesigned model in November 2005. Airbus has 149 orders for its 555-seat A380, which is now two years behind schedule because of wiring problems. Boeing is set to surpass its Toulouse, France-based competitor in orders for the first time in six years.

``This is a huge move in favor of Boeing, given that Lufthansa was one of the launch customers of the A380,'' said Paul Nisbet, an analyst at JSA Research in Newport, Rhode Island, who has a ``buy'' rating on Boeing. ``Lufthansa is a very respected airline, and I think it will encourage others to give greater consideration to the 747-8. I think it could outsell the A380, eventually.''

Lufthansa, based in Cologne, Germany, also took options on another 20 of the new Boeing 747-8s. The company's current fleet is made up 61 percent of Airbus planes.

Having a ``marquis customer'' gives ``a new level of credibility'' to the jet, Dan Mooney, the head of Boeing's 747-8 program, said on a conference call from Seattle today.

First Customer

Lufthansa will be the first carrier to operate the new Boeing plane, Lufthansa Chief Executive Officer Wolfgang Mayrhuber said in the statement, describing the aircraft as ``the longest passenger jet in the world.''

Shares of Lufthansa fell 20 cents to 19.97 euros today. The stock has surged 60 percent this year, valuing the company at 9.14 billion euros ($12.2 billion). Boeing rose 10 cents to $90.83 and has risen 29 percent this year, compared with a 28 percent decline for Airbus parent European Aerospace, Defence & Space Co.

The 747-8 lists for up to $282.5 million each for passenger versions, though launch customers usually get steep discounts. The A380 lists for $306 million. Lufthansa currently has 30 older models of the twin-aisle 747 jumbo jet in its fleet.

``Lufthansa got a good deal,'' Larry Dickenson, Boeing's top salesman, said on the conference call.

The German carrier, which ordered 15 A380s in December 2001 and now doesn't expect to get the first one until 2009, will have the world's second-largest superjumbo fleet, behind Emirates. Nico Buchholz, the carrier's fleet manager, said today the 747-8 order ``had nothing to do with'' the A380 delays.

``We would not change our fleet structure because of a delay at a manufacturer,'' he said.

A380 Struggle

Airbus is struggling to complete development of the 555-seat A380 model, which EADS estimates will generate operating losses of 4.8 billion euros by 2010.

``It appeared that A380 discounts might keep the new 747 out of the passenger market,'' Richard Aboulafia, vice president of the Teal Group, a Fairfax, Virginia-based consulting company, said before Lufthansa's announcement. ``An endorsement by a pro-Airbus European flag carrier implies broad market acceptance for the 747, and Boeing parity in the large aircraft niche.''

The 747-8 will be built using the more-efficient engines and wing design from Boeing's new 787 Dreamliner, and the plane will cost 21 percent less to operate than Airbus's A380, according to Boeing's Web site. Buchholz said the new engines were key to Lufthansa's decision to order the 747-8.

General Electric Co., which has the exclusive rights to provide the engines on the 747-8, will get an order valued at about $1 billion, based on list prices, from Lufthansa's decision today.

Lufthansa Surprise

``It's surprising that Lufthansa is the first airline to go ahead as the first customer for the 747-8, because they're one of the main customers for the A380, and the market was looking for them to order more A380s or the A350,'' said Frank Skodzik, an analyst with WestLB in Dusseldorf, Germany, with a ``buy'' rating on EADS and an ``add'' recommendation on Lufthansa.

Airbus said on Dec. 1 that it has won 635 orders through the end of November compared with 823 for Boeing. Airbus has delivered 399 planes this year compared with 330 for Boeing, which expects to regain the lead by that measure in 2008 thanks to demand for the long-range 787 model.

``We have a number of 747 campaigns underway,'' commercial aircraft chief Scott Carson told investors at Credit Suisse First Boston's Aerospace and Defense conference in New York today.

747 Fleet

Airlines were operating 972 of the various 747 models across the globe as of Nov. 14, according to the CASE database of Ascend, a London-based consulting company. The five biggest operators are Japan Airlines International, with 67; British Airways, with 57; Northwest Airlines, with 45; Korean Air, with 48; and Cathay Pacific, with 38.

EADS's board on Dec. 1 authorized Airbus to spend 11.6 billion euros to develop the A350 XWB to challenge the 787. The first of Airbus's new planes would enter service in 2013, five years after the Boeing model. The plane is Airbus's sixth attempt to create a competitor for the 787, which has won more than 430 orders.

Lufthansa's last Boeing order was for 14 MD-11 freighters in 1997, according to the planemaker's Web site. Andreas Otto, a Lufthansa Cargo board member, said in an interview late yesterday that the company won't replace the MD-11 fleet before 2020. The freight airline may order ``a few additional planes'' in coming years, though there are no immediate purchases planned, he said.

The carrier ordered five 335-seat Airbus A330-300 aircraft in September for its long-haul fleet and 30 short-haul Airbus planes, worth $3.12 billion at list prices. Lufthansa is also weighing Boeing's 787 model and Airbus's A350 as the company aims to grow 4 percent to 6 percent a year.

Mayrhuber said in October he wanted to wait until he saw the final form of the A350 before deciding between that and the 787 for other orders to come in 2007.

To contact the reporter on this story: Susanna Ray in Frankfurt at sray7@bloomberg.net; James Gunsalus in New York at jgunsalus@bloomberg.net.

Last Updated: December 6, 2006 16:07 EST