Continental Throws Boeing Some Business
Is that a sigh of relief in the air? Continental Airlines said on May 12 that it plans a $4.5 billion purchase of 92 Boeing planes. Besides reinstating orders for 75 narrowbodies, it placed new orders for a dozen 767s and five 777s, bringing Boeing's orders for 1993 to 107 jets worth $6.51 billion. It's a win-win deal for both companies. Continental is just now emerging from Chapter 11. And Boeing has lately been order-starved. The loser? Europe's Airbus Industrie, from which Continental recently pulled back its orders.