Kuwait Airways Plans to Buy 10 Boeing 777-300ER Jets

SEATTLE (The Seattle Times/TNS) -

Boeing has won a commitment from Kuwait Airways to buy 10 777-300ERs, worth an estimated $1.7 billion.

The announcement came a day after news broke that Boeing had lost out to Airbus for a $6.2 billion Delta order.

Boeing is keen to sell more of these current 777 models to sustain output at the current level until production of the new 777X model kicks into gear.

Analysts estimate Boeing needs as many as 360 new sales of current 777s over the next six years to bridge the gap to the 777X.

Though worth $3.3 billion at current list prices, the real value of the Kuwaiti order after standard discounts is about $1.7 billion, based on estimated market-pricing data from aircraft-valuation firm Avitas.

In February, the Kuwaiti flag carrier placed a firm order for 10 Airbus A350-900s and 15 Airbus A320neos.

The list price of that deal was $4.5 billion, with an estimated value after standard discounts of about $2 billion.