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Boeing Launches 777X With Record-Breaking Orders And Commitments

Stocks in this article: BA

DUBAI, United Arab Emirates, Nov. 17, 2013 /PRNewswire/ -- Boeing [NYSE:BA] today launched the 777X program at the 2013 Dubai Airshow with a record-breaking number of customer orders and commitments for the newest member of its twin-aisle product family. Agreements for 259 airplanes from four customers across Europe and the Middle East provide a strong foundation to support development and production of the airplane.

Representing the largest product launch in commercial jetliner history by dollar value, 777X orders and commitments include Lufthansa with 34 airplanes; Etihad Airways with 25; Qatar Airways with 50 and Emirates with 150 airplanes. The combined value of the agreements is more than $95 billion at list prices.

"We are proud to partner with each of these esteemed airlines to launch the 777X – the largest and most-efficient twin-engine jetliner in the world," said Boeing Commercial Airplanes President and CEO Ray Conner. "Its ground-breaking engine technologies and all-new composite wing will deliver unsurpassed value and growth potential to our customers."

The 777X builds on the passenger-preferred and market-leading 777, which today commands 55 percent of market share in its category in terms of backlog, and 71 percent of the in-service fleet worldwide. The 777X family includes the 777-8X and the 777-9X, both designed to respond to market needs and customer preferences.

The 777X builds on the best-in-class dispatch reliability from today's 777, as well as offering more market coverage and revenue capability that surpasses the competition. The 777-8X competes directly with the A350-1000, while the 777-9X is in a class by itself.

Opening new growth opportunities for airlines, the 777-9X offers seating for more than 400 passengers, depending on an airline's configuration choices. With a range of more than 8,200 nautical miles (15,185 km), the airplane will have the lowest operating cost per seat of any commercial airplane.

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