Boeing Co. (BA) delivered its first 777-300ER (Extended Range) airplane to GE Capital Aviation Services and its lease customer Philippine Airlines. It is the first 777 in the fleet of Philippine Airlines. The aircraft was packed with relief supplies for victims of Typhoon Ketsana.
The airline has four more of this aircraft on order with Boeing. In the recently reported third quarter of fiscal 2009, the company booked 96 gross orders. The company finished the quarter with segmental backlog of $254 billion.
The Boeing 777-300ER is among the most efficient airplanes in the 300-to-400 seat segment, which would provide the airlines the flexibility to serve key markets worldwide while offering its passengers the highest levels of comfort and reliability. Additionally, the aircraft brings new twin-engine efficiency to the airline’s long-haul fleet.
The aircraft is powered by General Electric GE90-115BLs, the world’s largest and most powerful commercial jet engine. It has a cargo capacity of up to 7,120 cubic feet (201.6 cubic meters). The aircraft that was flown to Manila was packed with nearly 18,000 pounds of medical supplies and packaged meals that were obtained by three non-profit agencies, including AmeriCares, Humanitarian International Services Group and Kids Against Hunger.
Headquartered in Chicago, Boeing is the world’s largest manufacturer of commercial jet liners and military aerospace products (based on total sales). Boeing designs and produces commercial airplanes, defense systems, and civil and defense space systems. It is also the largest NASA contractor.
Non-airplane products include helicopters, electronic and defense systems, missiles, satellites, rocket engines, launch vehicles and advanced information and communication systems. We maintain our market Neutral recommendation on the shares.
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