Aerospace and defense giant The Boeing Company (BA) announced that it has inked a deal with Air China to supply five 747-8 Intercontinental jetliners. Air China is the first Chinese carrier to book for the passenger version of the new 747-8 Intercontinental. The combined list price of the five airliners will be $1.54 billion and the expected time of delivery of the airplanes is in 2014-2015.
The 747-8 Intercontinental is the latest model from Boeing, which features cutting-edge breakthroughs in aviation technology, akin to the 787 Dreamliner, featuring new wings, a brand new body and engines. Consequently, the airplane would improve upon fuel efficiency by 16% and reduce carbon emissions by another 16%.
This ground-breaking model would furnish vastly superior interiors adding to the comfort of the passengers. The 747-8 Intercontinental would carry more passengers and cargo further and faster than any airplane of its class. The new engines would lower the sound emission by 30% compared to previous versions.
Air China and Boeing have been doing business together for a long time. The Chinese airline is using 747 in its operations since 1980 and the new variant of 747 will enhance the performance of its fleet.
As of March 1, 2011, net orders received by Boeing stands at 17 airplanes, while deliveries for commercial airplanes for the first two months of 2011 touched 61 airplanes.
Apart from receiving a steady stream of commercial airplane orders, Boeing successfully booked orders for its military airplanes. In late February, Boeing received a contract worth $35 billion from the Pentagon to build aerial refueling tankers beating its European rival European Aeronautics, Defense & Space Co.
The Boeing Company currently retains a Zacks #4 Rank (short-term Sell rating). The company competes with the likes of General Dynamics Corp. (GD), Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC).
Based in Chicago, The Boeing Company designs and produces commercial airplanes, defense systems and civil and defense space systems.
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