Boeing Wins Accords to Sell 120 Jets to GE, Alafco

Boeing Wins Accords to Sell 120 Jets to GE Leasing Unit, Alafco
Boeing Commercial Airplanes President and Chief Executive Officer Ray Conner, left, and GE Capital Aviation Services Chief Executive Officer Norm Liu sit behind a model of a Boeing Co. 737-8 aircraft during a news conference on the second day of the Farnborough International Air Show in Farnborough. Photographer: Chris Ratcliffe/Bloomberg

Boeing Co. racked up deals with leasing companies for a second consecutive day, as a General Electric Co. unit and Kuwait’s Alafco agreed to buy 120 of the planemaker’s top-selling 737 single-aisle model.

GE Capital Aviation Services committed to take 75 of the upgraded Max version and 25 of the current model of the top-selling 737, Boeing said today in a statement at the Farnborough air show outside London. Alafco will acquire 20 planes, all the 737 Max version, Boeing said in a separate statement.

Gecas’s transaction would have a list value of $9.25 billion, based on Chicago-based Boeing’s retail prices for the 737 Max 8 and the 737-800 planes in the agreement, while the Alafco deal would be valued at $1.9 billion. Airlines typically buy at a discount.

Boeing opened the Farnborough show, the year’s highest-profile trade event for the aerospace industry, with an order yesterday for 75 737s from Steven Udvar-Hazy’s Air Lease Corp. That sale included 60 Max planes in the first such deal with a lessor.

Both of today’s accords are still being completed, and will be logged in Boeing’s official order tally once they’re final, according to the planemaker.

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