The Boeing logo is pictured at the LABACE fair in Sao Paulo

PE firm 777 Partners nearly doubles 737 MAX order

(Reuters) – Boeing Co said on Tuesday Miami-based 777 Partners placed an order for 30 more 737 MAX jets, valued at $3.7 billion at list prices, that would nearly double the private-equity firm’s order book for the popular aircraft.

Shares of the planemaker rose 2.5% in morning trade following the announcement.

The order is a boost for Boeing, which said last month that it had delivered 212 737 MAX jets this year, as it tries to recover from the fallout of the pandemic and a safety scandal caused by two fatal crashes of the planes.

Boeing has stepped up deliveries of the aircraft this year on an air-travel rebound that helped the company book massive orders, including a deal to sell 200 737 MAX jets to United Airlines Holdings Inc.

Its larger 787 Dreamliner aircraft, however, has been hobbled by production problems.

777 Partners, which owns a stake in Canadian low-cost carrier Flair Airlines, had in March placed an order for 24 737 MAX jets, with an option to purchase 60 more.

The bulk of the new order is for Boeing’s 737-8-200 variant, Miami-based 777 Partners said, adding that the firm will now own a total of 68 737 MAXs.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D’Silva)