Alaska Air is increasing Boeing 737 orders and options to 120, to “ largely ” replace the Airbus fleet

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Alaska Air Group Inc. ALK,
-0.82%
said Tuesday it will purchase 23 more 737-9 planes from Boeing Co. BA,
-0.13%,
to bring the total number of orders and options for 737 MAX aircraft to 120. Boeing’s stock rose 1.8% in the premarket trade and Alaska Air’s stock rose 1.6%. The delivery schedule for the 68 firm orders is 13 aircraft in 2021, 30 in 2022, 13 in 2023 and 12 in 2024. The airline said the aircraft will “largely” replace its Airbus SE EADSY fleet.
+ 0.04%
SKY,
+ 1.47%
airplanes. Alaska Air has an option to purchase 52 additional aircraft. “We believe in this aircraft, we believe in our strong partnership with Boeing, and we believe in the future of Alaska Airlines and the incredible opportunities that lie ahead as we climb out of this pandemic,” said Brad Tilden, Chief Executive of Alaska Air . Alaska Air shares are up 32.6% in the past three months and Boeing shares are up 39.9%, while the Dow Jones Industrial Average DJIA,
-0.38%
has gained 11.4%.

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