Boeing Business Jets Sales Momentum Continues with Seven New Orders

Boeing [NYSE: BA] Business Jets today announced it has won seven new orders this year, bringing total program sales to 135 jets. The new orders are worth $478.5 million at list prices.

The new orders are for six BBJs, high-performance derivatives of the commercially popular Next-Generation 737-700, and one 787-9 VIP jet. The 787 VIP jet is based on the most successfully launched commercial airplane, the 787 Dreamliner.

“After winning 23 orders for our luxury jets last year, we continue to see incredible demand. Boeing Business Jets could be poised for another phenomenal year,” said Steven Hill, president of Boeing Business Jets, during a press briefing on the eve of the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland. “In the time since EBACE 2006, Boeing Business Jets has won 27 new orders including 12 BBJs, two BBJ 2s, three BBJ 3s, four 747-8 VIPs and six 787 VIPs. The total doesn’t count the two 787s that were purchased by VIP customers directly from leasing companies.”

A Boeing Business Jet is on static display at EBACE May 22 through 24 outside Palexpo, the exhibition and conference center located on the perimeter of Geneva International Airport.

To date, program sales include 107 BBJs, 15 BBJ 2s, three BBJ 3s, four 747-8 VIPs and six 787 VIPs.

Private individuals comprise the majority of the Boeing Business Jets customer base at 44 percent, followed closely by government heads of state at 36 percent. The remaining customer segments are divided evenly between corporate and charter operators.

Boeing Business Jets was launched in 1996 and includes a joint venture agreement between Boeing and General Electric to provide a long-range business jet based on the Next-Generation 737. Boeing manages day-to-day operations, manufactures the airplane, and is responsible for sales and marketing activities with support from General Electric. Since the program’s inception, 104 BBJs have been delivered. Ninety BBJs are fully completed and in service, which means 14 are in some stage of interior completion.

The BBJ worldwide fleet has generated more than 241,500 flight hours to date and 93,600 flights. The jet has an industry-leading reliability rate of 99.9 percent.

Late last year, Boeing Business Jets launched VIP versions of the new commercial jetliners, the 787 Dreamliner and the 747-8 Intercontinental. Nearly 300 Boeing airplanes are in service in the VIP and business jet market.