This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Southwest Will Launch Boeing 737 MAX

DALLAS ( TheStreet) -- Southwest (LUV - Get Report) will become the launch customer for the new Boeing (BA - Get Report) 737 MAX, the companies said Tuesday.

The carrier became the first customer to place firm orders for the new aircraft, with the first delivery slated for 2017. The order is for 150 aircraft.

Boeing said the firm order is the largest in its history both in dollar value, nearly $19 billion at list prices, and in the number of airplanes.

Southwest, which operates the world's largest 737 fleet, has been the launch customer for three 737 models: the 300, 500 and 700.

"Southwest is a special Boeing customer and has been a true partner in the evolution of the 737," said Boeing Commercial Airplanes CEO Jim Albaugh, in a prepared statement.

Southwest CEO Gary Kelly said, "Today's environment demands that we become more fuel-efficient and environmentally friendly, and as the launch customer of the Boeing 737 MAX, we have accomplished both."

Boeing said the 737 MAX will reduce fuel burn and CO2 emissions by 10% to 12% over today's most fuel-efficient single-aisle airplane and will reduce operating costs by 7%.

With the Southwest order, Boeing has more than 900 orders and commitments from 13 customers for the 737 MAX.

Besides the MAX order, Southwest announced it would order 58 additional 737NGs, bringing its total firm orders with Boeing to 350 aircraft from 2012 through 2022. In general, the new planes will serve to replace aging aircraft in the fleet.

-- Written by Ted Reed in Charlotte, N.C.

>To contact the writer of this article, click here: Ted Reed

>To follow the writer on Twitter, go to http://twitter.com/tedreednc.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BA $143.54 -0.10%
LUV $37.93 1.07%
AAPL $114.64 -3.21%
FB $94.06 -0.08%
GOOG $629.25 -0.31%

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs