Japan Airlines Buys 11 Boeing Jets at $1.6 Billion

Boeing Co. said Japan Airlines Co. has ordered 11 wide-body jets, including eight 777-200ERs and three 767-300ERs, worth a total of $1.6 billion at list prices. Meanwhile, Turkish Prime Minister Bulent Ecevit said his government would negotiate to buy six or seven radar surveillance aircraft from Boeing in a deal industry officials valued at $1.5 billion. Turkey would first negotiate with Boeing, but if no deal was reached, it would consider a competing bid from Raytheon Co., Ecevit said. Seattle-based Boeing said it will also buy back 10 MD-11 wide-bodies from Japan Airlines and reconfigure them to carry freight. The aerospace giant will then sell the MD-11s to cargo hauler United Parcel Service Inc. The three-way deal is the latest in a year-old Boeing campaign to boost revenue by working its various business units more closely together than in the past. UPS said on Nov. 2 that it planned to buy 13 used MD-11s from Boeing in a deal valued at about $2 billion. Boeing shares rose $1.69 to close at $67.38 on the New York Stock Exchange.