SAN FRANCISCO (AFX) -- Boeing Co. stock hit a record high Wednesday after the announcement that General Electric Co.'s aircraft-leasing division would order up to 60 of Boeing's popular 737 jets in a deal worth up to $4 billion at list prices.
GE Commercial Aviation Services , which has a fleet of some 1,400 aircraft, has a firm order for 30 of the 737 Next Generation model with an option for 30 more.
Delivery for the 30-plane order starts in 2008 and ends in 2010, Boeing said.
Orders for 737s reached 574 jets in 2005, a sign of the plane's popularity with the growing ranks of low-cost airlines drawn to its smaller size and favorable operating costs. That total is more than half of Boeing's record 1,002 orders for 2005.
The range of 737 list prices, depending on the version, is from $45.5 million to $77 million. Customers typically receive discounts on large orders.
The 737 Next Generation is powered by engines made by General Electric and France's Snecma.
Buoyed by a resurgent commercial-aircraft business and still-strong defense spending, Boeing's stock has recently reached new highs.
On Wednesday, the company's shares rose 2.2% to $79.18 - closing just below the record high of $79.48 set earlier in the session. This story was supplied by MarketWatch. For further information see www.marketwatch.com.