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Boeing Co (NYSE: BA) is up 2.0% today after Lufthansa placed an order for 40 of its 737-8 MAX.

Lufthansa buys 40 of Boeing’s 737 Max

The German flagship air carrier also has an option to buy another 60 of those planes from Boeing in the future.

It’s the first time that Lufthansa has purchased the 737 since 1995. Carsten Spohr – its Chairman of the Executive Board said in a press release today:

It’s a good strategic decision. With the new, quiet, economical and efficient 737-8, we’re making progress in modernising our fleet and in achieving our CO2 reduction targets.

The news arrives only days after Boeing received a similar order from Avolon – an Irish aircraft leasing company. Its shares are now up a whopping 50% since late October.

Lufthansa also placed an order with Airbus

On Tuesday, Deutsche Lufthansa AG (EPA: AIR) placed an order for 40 of A220-300s – a narrow-body jetliner of rival Airbus SE as well.

In total, the Europe’s largest airline expects to spend $9.0 billion on the purchase it announced today. Lufthansa will start taking deliveries from 2026, as per its press release this morning.

.@easyJet orders a further 157 A320neo Family aircraft. Find out more 👉 https://t.co/K7vsfsbFwm pic.twitter.com/pHVfQdA4In

— Airbus Newsroom (@AirbusPRESS) December 19, 2023

Last month, the air carrier reported €1.47 billion ($1.61 billion) in adjusted EBIT for Q3 – the third best it has recorded for a quarter in its history.

Lufthansa also reiterated its profit guidance for the coming year in November. Wall Street currently has a consensus “overweight” rating on shares of the Cologne-headquartered firm.

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