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Boeing (BA +4.7%) bounces to the top of Monday's Dow Jones leaderboard after confirming Qatar Airways agreed to purchase as many as 50 of its new 777X freighter jets, becoming the first buyer of the future plane.
Qatar Airways said it commits to a firm order for 34 jets with options for 16 more, a total purchase worth more than $20B at current list prices and the largest freighter commitment in Boeing history by value.
The two companies also signed a memorandum of understanding for a firm order of 25 737-10 aircraft and purchase rights for 25 additional airplanes, with a total value of nearly $7B at current list prices.
General Electric (GE +1.9%) also received an order valued at more than $6.8B from Qatar Airways for its GE9X engines.
The announcement was made at a White House event with Boeing's commercial unit chief Stan Deal, Qatar Airways CEO Akbar Al Baker and U.S. Secretary of Commerce Gina Raimondo.
The news of the Qatar deal comes days after Airbus revoked a deal with Qatar for the competing A321neo, as part of an increasingly bitter dispute between the two companies.