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SEATTLE - Canadian airline WestJet has placed an order for 67 additional Boeing aircraft, the companies announced Wednesday. The purchase includes 60 737-10 jets and seven 787-9 Dreamliners, with options for 25 more 737s and four additional Dreamliners. The deal comes as Boeing [NYSE:BA], currently valued at $177 billion, has seen its stock surge 34% year-to-date, trading near its 52-week high of $242.69.
The order, previously listed as unidentified on Boeing’s Orders & Deliveries website in June, brings WestJet’s total firm order book to 123 aircraft. This represents what the airline claims is the largest order book of any carrier in Canada.
"These highly efficient and comfortable aircraft are critical to the growth and renewal of our fleet and will also significantly improve our fuel consumption," said Alexis von Hoensbroech, WestJet chief executive officer, according to the press release.
WestJet, which began operations in 1996 with three Boeing 737 aircraft, currently operates nearly 150 Boeing 737s and seven 787-9 Dreamliners. The airline uses these aircraft for domestic routes and long-haul international flights to destinations across Europe, Asia, and Latin America.
The deal increases WestJet’s 737-10 order book to 107 aircraft. The carrier’s fleet is reportedly among the youngest of established North American airlines with an average age of approximately 10 years.
Stephanie Pope, president and CEO of Boeing Commercial Airplanes, said the company is "honored that WestJet has once again placed its trust in Boeing with a major investment." InvestingPro analysis indicates Boeing is currently trading above its Fair Value, with analysts maintaining a bullish consensus and setting price targets up to $287. Get access to 8 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
Boeing [NYSE:BA] describes the 737-10 as offering operational commonality while serving more passengers with lower costs per seat, while the 787 Dreamliner focuses on passenger comfort and operational efficiency.
In other recent news, Boeing has entered into a significant agreement with WestJet, which involves the purchase of 60 737-10 MAX narrowbody aircraft and seven 787-9 Dreamliner widebody aircraft. This agreement includes options for an additional 29 aircraft, marking WestJet’s largest-ever aircraft order and the largest Canadian Boeing order in history. Additionally, Boeing is seeking European Union approval for its planned $4.7 billion acquisition of Spirit AeroSystems, a major aerostructures company. Meanwhile, Korean Air is expected to announce a record order for approximately 100 Boeing airplanes, including a mix of 787s, 777s, and 737s.
In other developments, Treasury Secretary Scott Bessent criticized Boeing for prioritizing share buybacks over research and development investments. Bessent described Boeing as having been "crippled for several years." Separately, BAE Systems has delivered its 1,000th infrared seeker for the THAAD missile defense program, enhancing missile guidance capabilities. These recent developments highlight Boeing’s ongoing activities in aircraft sales, acquisitions, and the aerospace sector.
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