AEROSPACE

Continental to Buy Boeing Aircraft: The Houston-based airline announced a firm order for 60 Boeing Co. aircraft in a bid to replace aging jets by the turn of the century. Continental will acquire Boeing’s 737-500 and 737-600 model aircraft to replace 60 older planes between July 1997 and December 1999, according to a company news release. Continental plans to replace 737-100, 737-200 and DC-9 jetliners. As a result of its decision to retire the older aircraft and return leased planes, Continental plans to book an after-tax charge of $77 million for the third quarter of this year. The charge, $128 million on a pretax basis, will cover the write down of associated inventory and other expenses related to the planes being retired. In NYSE trading, Continental shares rose $87.5 at $23.375; Seattle-based Boeing shares rose 12.5 cents to $97.625.