United Airlines (UAL) has agreed to buy at least 100 Boeing (BA) 787 Dreamliner jets to replace its aging fleet of less fuel-efficient aircraft.
The deal also gives United Airlines an option to purchase an additional 100 Dreamliners from Boeing.
The order from United Airlines is a huge boost to Boeing heading into year-end and comes as United returns to profitability following the global pandemic.
United said the Dreamliner jets will replace Boeing 767s and some older Boeing 777s. The Dreamliners are expected to be delivered to Chicago-based United Airlines between 2024 and 2032.
As with other U.S. carriers, United Airlines has had to wait for new jets while Boeing worked out manufacturing flaws and recovered from several high-profile crashes of its aircraft.
United Airlines said it plans to also purchase 56 Boeing 737 Max narrow-body planes and exercise an option for 44 more, creating a total order of about 300 new aircraft.
Shares of United Airlines are down 3% this year at $44.24 U.S., while Boeing’s stock is down 10% on the year and trading at $186.27 U.S. per share.
