Continental Airlines orders 27 more planes from Boeing

Continental Airlines said on Thursday it ordered 27 more planes from Boeing, in a deal worth USD$2.5 billion at list prices.

Orders in the US market have been sluggish for Boeing, with airlines financially stretched after a five-year slump that ended in 2006, and a new downturn looming.

Continental, one of the few major US airlines with significant Boeing planes on order, said it was buying planes to replace older, less efficient aircraft and to pursue growth opportunities.

The fourth-largest US carrier plans to buy 8 new 777s for long-haul international routes, such as Newark to Shanghai and new flights to London Heathrow. The 777 aircraft can seat between 301 to 368 passengers.

Continental also plans to buy nineteen 737s, which will be used to replace older 737s and expand. The 737 can carry 110 to 220 passengers.

With the latest deal, Continental has 111 new Boeing aircraft on order.