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Boeing Wins Huge Orders from Kazakhstan (BA)

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BoeingOn Thursday, U.S. aerospace giant, Boeing (NYSE: BA) said that it has won a major order from Kazakhstan’s flagship carrier Air Astana. The aircraft manufacturer will make 7 new aircrafts worth $1.3 billion for its Kazakh client.

Air Astana placed an order of four extended range Boeing 767s and three Boeing 787 Dreamliners. All these panes will be built through carbon –reinforced plastics.


Boeing also said that the new order “is one of the largest of its kinds in Kazakhstan’s history”.

The Kazakh carrier was founded in 2001; and is jointly hold by the Kazakh government and the BAE systems of Britain- which holds 49%.

Commenting on the deal, Air Astana president Peter Foster said in a written statement “Our decision to order the Boeing airplanes is part of Air Astana’s long-term growth strategy to expand and modernize our fleet with newer, more fuel-efficient airplanes to serve domestic, regional and international routes.”

Air Astana’s maiden flight kick start from May 2002; the airline holds currently 26 Western-made aircraft with an average age of 11 years, and 3,500 employees.

The airline covers about 50 domestic and international routes. The carrier’s long-haul destinations cover London, Amsterdam, Seoul, Beijing, Bangkok and New Delhi. Besides, the airline also serves destinations in the former Soviet Union and Turkey.

Air Astana, which recently placed ordered with Airbus A320 and Embraer 190 aircraft, plans to strengthen its fleet to 34 planes by 2016, and to 43 by 2020.

So far in 2012, Boeing has booked a net 385 orders for its commercial aircraft. Shares of Chicago based Company were gaining 0.4% at $ 75.26 in the afternoon trading at NYSE.

 

 

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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