Boeing Just Sold $8 Billion Worth of its Newest Planes

November 9, 2015, 8:08 PM UTC
A Jet Airways aircraft taxies after landing at Indira Gandhi International Airport in New Delhi.
Photograph by Raveendran — AFP/Getty Images

Aircraft manufacturer Boeing (BA) has just announced a big order for the latest version of its best-selling 737 Max line of airplanes.

The company said Monday that it has signed an $8 billion order from Indian airline Jet Airways for 75 of Boeing’s 737 Max 8 single-aisle planes. The deal, which marks the largest-ever airplane order in the Indian company’s history, calls for Boeing to upgrade 25 current versions of the 737 plane to the new Max 8 version, while Jet Airways also purchased rights on 50 more planes.

Boeing announced the Jet Airways deal on Monday, although Bloomberg notes that the deal had been on the company’s books for nearly two years without a disclosed buyer.

The 737 Max represents the fourth-generation of Boeing’s 737 line of aircraft, with the Seattle-based company expected to begin releasing the new planes in 2017.

Boeing announced the sale at the annual Dubai Air Show, which has been otherwise relatively slow for the aircraft industry compared with 2013’s record showing of $179 billion in cumulative jetliner deals announced by multiple companies. The Wall Street Journal notes that prices for some aircraft are down amid weaker demand after the normally busy opening day of this year’s industry event resulted in no announced deals.