Boeing gains major order from airbus

With 217 total orders and commitments for the 787, shares in U.S. aircraft manufacturer Boeing advanced by nearly 3 percent to $59.50 in early trading on Monday.

This number of orders included a newly announced deal for Air Canada to purchase 14 787s and 18 777s from the Chicago-based Boeing, for a total of around $6 billion. Besides these firm purchases, Air Canada also took options for 46 additional 787s and 18 777s.

Air Canada’s chief executive said Monday that the 787 would be the more economical aircraft, saving about 30 percent in fuel efficiency and costs for maintenance compared to planes currently in use.

The airline recently announced plans for daily non-stop flights to Beijing, Shanghai, and Guangzhou.

Air Canada has seen rapid expansion of its Asian and Latin American routes recently, as many passengers from those areas prefer to fly into Toronto and Vancouver when traveling between Asia and the Latin American since U.S. visa and security restrictions have tightened.

Boeing will begin deliveries next year for the 777s and the 787s will be delivered beginning in 2010.

This is seen as a significant win for Boeing over it’s European rival Airbus. Air Canada had previously replaced all its Boeing aircraft with Airbus and Bombadier CRJ regional jets.