Boeing share price, wins record AerCap order at the Paris Air Show

Boeing extended its order lead over competitors on the second day of the Paris Air Show by securing a $10.7-billion deal with Dutch aircraft leasing company AerCap Holdings NV for the delivery of 100 737 MAX 8 passenger jets.

The accord, the biggest one yet at the show by volume and value, confirms media reports that the US aircraft maker was close to finalizing the long-sought deal.

“This is a big day for us, it’s a real highlight of the show,” said Ray Conner, the head of Boeing’s commercial aircraft unit.

“It is as important a transaction for AerCap as it is for Boeing,” AerCap Chief Executive Aengus Kelly said, adding that the leasing company is also interested in the 737 MAX 9 to help replace aging models in its fleet. Boeing also announced an agreement for the delivery of 10 737 MAX 8 planes to SMBC Aviation Capital.

Last week, Mr. Kelly said that this years trade show will likely produce fewer orders than in the past, presenting a good opportunity for purchasers to negotiate better prices with planemakers.

The deal, the negotiations of which were inherited by AerCap from US leasing company ILFC which it bought last year, brings Boeings total tally to around $29.6 billion, almost double that of Airbus.

The two aircraft makers split a $20 billion order by Indonesian flag carrier PT Garuda Indonesia on Monday. Garuda plans to purchase 30 787-9 aircraft and 30 737 MAX 8s with a total value of $10.9 billion, Boeing said on Monday, adding to the 50 737 MAX 8s it ordered last October. Delivery of the 787 units will be between 2022 and 2024 and the 737 aircraft will be delivered from 2022 to 2025.

The Indonesian carrier, which is competing with PT Lion Mentari Airlines in a market that is expected to triple by 2034 amid a travel boom among the middle class, also signed a letter of intent with Airbus to purchase 30 A350 XWBs valued at $9.1 billion that will enable non-stop flights from Jakarta or Bali to Europe. The company plans to carry 20% more passengers this year from 30 million in 2014.

Meanwhile, Qatar Airways ordered 10 of Boeing’s upgraded 777X and four 777 freighters, valued at a combined $4.8 billion, while Taiwans Eva Airways Corp plans to purchase five 777s worth more than $1.5 billion, Boeing said.

Saudi Arabian Airlines, also known as Saudia, ordered 20 A330-300s worth about $5 billion and 30 single-aisle A320s with current-generation engines. General Electrics leasing unit ordered 60 A320neos, an updated version of the A320 fitted with new engines, valued at $6.4 billion at list prices.

Airbus Group SE traded 2.11% lower at €58.04 per share at 09:52 GMT in Paris, marking a one-year increase of 14.84%. The company is valued at €46.69 billion.

Boeing Co settled 0.36% lower at $142.29 per share on Monday in New York, up 7.56% year-on-year with a market capitalization of $98.40 billion. According to CNN Money, the 20 analysts offering 12-month price forecasts for Boeing have a median target of $167.00, with a high estimate of $196.00 and a low estimate of $101.00. The median estimate represents a +17.37% increase from the last price of $142.29.