Boeing wants new B737 before B777 upgrade; Bombardier wins business-jet order
Boeing's VP of Business Strategy & Marketing, Mike Bair, stated the company is leaning towards developing an all-new B737 replacement before moving to improve the B777 family. Boeing’s new narrowbody aircraft would be wider than the B737 and seat 150-220 and is expected to be ready to enter service on 2019/20. Boeing could then move to develop new wings and fit new engines to the B777.
NetJets announced an order for 50 Bombardier business jets, and purchase options for another 70 aircraft. Deliveries of the aircraft are due to commence in 2017.
BBA Aviation proposed to place up to 9.99% of its existing issued ordinary share capital. Net proceeds of the placing are proposed to be used as follows:
- Financing of the aggregate investment of approximately USD80 million for new acquisitions;
- Providing flexibility to continue BBA Aviation’s consolidation strategy;
- Enhancing the company’s ability to access debt markets.
The company also announced that it has agreed to acquire GE Aviation Systems’ fuel measurement business for a cash consideration of USD62.5 million on a cash and debt free basis and that it has acquired a business and general aviation fixed-based operation at Bozeman from Yellowstone Jet Centre LLC for cash consideration of USD10.5 million. BBA Aviation will also make a further investment of approximately USD7.0 million in working capital and fixed assets
Selected Aerospace daily share price movements (% change): 02-Mar-2011
