has lined up firm orders for 10 next-generation 787 jets valued at $1.3 billion from
Korean Air Lines
, marking another victory in its global battle with
Also Monday, Korean Air Lines and Boeing said the carrier has options to order an additional 10 of the 787, which Boeing has dubbed the Dreamliner.
Boeing expects to begin delivering the Korean Air planes in 2009. General production of the jets is slated to begin in 2006, with the first planes entering service two years later.
Boeing is using light, composite materials for the 787, which will help the plane consume 20% less fuel than current jets of comparable size. That makes it attractive to airlines, which are struggling with record fuel costs. Targeted at the middle of the commercial jet market, the 787 will seat between 200 and 300 passengers and make medium- to long-range flights.
Rival Airbus late last year decided to develop a direct competitor to the 787. Airbus is basing the new plane, to be called the A350, on its existing A330 model.
Boeing shares rose 63 cents, or 1.1%, to $59.23, near their 52-week high.