Boeing and Philippine Airlines announce commitment for 20 787 Dreamliners

• Boeing (NYSE:BA) and Philippine Airlines have reached a commitment for up to 20 Boeing 787-10 Dreamliner widebody aircraft.
• The company's shares traded near $216.50 following the announcement of the commercial aviation agreement.
• The new fleet will complement the airline's existing 777 jets on medium- and long-haul international routes.

Boeing (NYSE:BA) and Philippine Airlines announced that the flag carrier has committed to order up to 20 Boeing 787 Dreamliner jets.

Once finalized, the commercial agreement will cover 15 firm 787-10 airplanes, with an option for the airline to purchase five additional units.

The aircraft order is designed to support Philippine Airlines' ongoing strategic fleet modernization and overall network expansion.

Operationally, the 787-10 is expected to complement the flag carrier's existing fleet of 10 Boeing 777 jets on its medium- and long-haul routes.

Following the announcement, Boeing shares traded near $216.50.

According to Boeing, the 787 family delivers about 25% less fuel use compared to the older generation airplanes it typically replaces.

The 787-10 variant can carry between 300 and 375 passengers and features a maximum flying range of up to 13,890 kilometers, or 7,500 nautical miles.