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Boeing confirms $4bn order from GE | Boeing confirms $4bn order from GE |
(35 minutes later) | |
General Electric's aircraft leasing and financing arm has confirmed that it has placed an order for 40 Boeing planes worth $4bn (£2.3bn) at list prices. | General Electric's aircraft leasing and financing arm has confirmed that it has placed an order for 40 Boeing planes worth $4bn (£2.3bn) at list prices. |
The order includes 20 737 MAX 8 planes and 20 next-generation 737-800 jets. | The order includes 20 737 MAX 8 planes and 20 next-generation 737-800 jets. |
The order was booked last year, but so far had been attributed to an "unidentified customer" by Boeing. | The order was booked last year, but so far had been attributed to an "unidentified customer" by Boeing. |
GE Capital Aviation Services (GECAS) said the new planes would help it meet growing demand for more fuel-efficient aircraft from its customers. | GE Capital Aviation Services (GECAS) said the new planes would help it meet growing demand for more fuel-efficient aircraft from its customers. |
"Our airline customers require more fuel-efficient aircraft to compete in the marketplace," Norman CT Liu, chief executive of GECAS, said in a statement. | "Our airline customers require more fuel-efficient aircraft to compete in the marketplace," Norman CT Liu, chief executive of GECAS, said in a statement. |
GECAS has now placed total orders for 95 units of 737 MAX 8 airplanes and 387 of the next-generation 737-800 jets making it the biggest buyer of the two models in the leasing industry. | GECAS has now placed total orders for 95 units of 737 MAX 8 airplanes and 387 of the next-generation 737-800 jets making it the biggest buyer of the two models in the leasing industry. |
Growing demand | |
A slowdown in global travel demand, coupled with high fuel prices, has hurt the profitability of many airlines across the globe in recent years. | |
As a result, airlines have been looking to keep their costs in check to try and sustain their profitability. | |
That has in turn caused a rise in demand for fuel-efficient aircraft. | |
The 100-200 seat narrow-body - or single-aisle - aircraft market is forecast to generate $20 trillion (£12.8tn) over the next 20 years. | |
The sector is currently dominated by Airbus's A320 and Boeing's 737 aircraft, but other firms are also looking to tap into the market. | |
Boeing has claimed that its next-generation 737's offer the "lowest operating costs in its class". |
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