Boeing Secures $1.5 Billion Order for 747-8 Intercontinental Jetliners

Korean Air has placed an order for five 747-8 Intercontinental jetliners, the first Asian airline to do so, in a deal worth $1.5 billion. Boeing has secured 110 orders for the 747-8, with 32 of those being for the passenger version. The new 747-8 Intercontinental offers improved fuel efficiency, reduced noise, and increased capacity, with a total of 467 seats in a three-class configuration. Korean Air plans to use the aircraft on long-haul routes to the Americas and Europe.

Key Takeaways:

• Boeing has secured a $1.5 billion order from Korean Air for five 747-8 Intercontinental jetliners.
• The order is the first from an Asian airline for the passenger version of the 747-8.
• The 747-8 Intercontinental offers a range of 8,000 nautical miles and a quieter, more fuel-efficient design.
• The aircraft has a total of 467 seats in a three-class configuration, 51 more than the 747-400.
• Boeing has secured 110 orders for the 747-8, with 32 being for the passenger version.
• The 747-8 program is in the later stages of design, with assembly set to begin in mid-2010 and first delivery scheduled for the fourth quarter of 2011.

Statistics:

• $1.5 billion: Value of the order from Korean Air
• 5: Number of 747-8 Intercontinental jetliners ordered by Korean Air
• 467: Total number of seats in a three-class configuration on the 747-8 Intercontinental
• 51: Number of additional seats on the 747-8 Intercontinental compared to the 747-400
• 110: Number of orders secured by Boeing for the 747-8
• 32: Number of orders secured by Boeing for the passenger version of the 747-8
• 8,000 nautical miles: Range of the 747-8 Intercontinental
• $52.66: Price of Boeing stock on the day the order was announced

Sources:

• Zacks Equity Research, Dec 08, 2009 (Zacks.com via COMTEX)
• Boeing Company (BA)
• SmarTrend Alert, Nov 23, 2009 (Comtex News Network, Inc.)
• Comtex News Network, Inc. (www.mysmartrend.com)