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Boeing Details 787 Pact

It will sell 15 Dreamliners to Virgin Atlantic.
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(BA) - Get Boeing Company Report

has signed an agreement to sell 15 of its 787-9 Dreamliners to Virgin Atlantic, an order that's worth roughly $2.8 billion at list prices.

The order includes options for an additional eight 787s and purchase rights for another 20 of the planes.

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At the same time, the companies will take part in an environmental initiative that will aim to develop sustainable fuel sources suitable for commercial jet engines and the aviation industry. A demonstration of the technology has been scheduled for 2008 using a Virgin Atlantic Boeing 747-400.

In addition, Boeing and Virgin Atlantic said they will work together on reducing fuel burn and cutting aircraft emissions on the ground by exploring alternatives to traditional aircraft operations at airports.

The Boeing 787 Dreamliner is scheduled for entry into service in 2008.