Boeing picks up more Asian orders
The American aerospace giant, along with European rival Airbus, announces dozens of new orders at the Hong Kong Air Show.
By Ted Reed, TheStreet
Nothing beats having an air show in the region with the fastest projected growth in commercial aviation.
The announcements of new orders for both Airbus and Boeing (BA) keep coming.
On Wednesday, Hong Kong's Cathay Pacific said it will buy fifteen A330s from Airbus and ten 777s from Boeing and will lease two A350s from International Lease Finance Corp.
"Our plan is to retire our 21 Boeing 747-400 and 11 Airbus A340-300 aircraft before the end of the decade as we take delivery progressively of new-generation aircraft," CEO Tony Tyler said.
Boeing also said Wednesday that the Russian carrier Aeroflot has ordered eight Boeing 777s. Six are 777-300ERs and two are 777-200ERs.
"These Boeing 777 airplanes will strengthen our network strategy, particularly the international growth opportunities we expect from our joint businesses with SkyTeam partners when servicing the 2014 Sochi Olympic Games and the 2018 FIFA World Cup," said Vitaly Saveliev, the general director of Aeroflot Russian Airlines.
To date, Boeing said, seven of the 12 SkyTeam members combined have ordered 141 versions of the 777.
Tuesday, Boeing announced an order for 33 737-800s from International Lease Finance Corp., the world's largest aircraft leasing company, which also said it will buy 100 aircraft in the Airbus A320 family. The company also canceled orders for ten A380s.
On Monday, Boeing reported orders from two Chinese carriers, Air China and Hong Kong Airlines.
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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