Boeing weathered economy with five year order backup
ST. LOUIS – St. Louis' second largest employer, Boeing, says a package of large orders have helped it weather the worst days of the economic downturn.
Despite the economy, business at the world's largest aircraft manufacturer is going strong. Boeing has an order backup sufficient to last more than five years.
In 2010, Boeing sealed two major deals for a multi-year procurement of 124 F/A-18 Superhornets, as well as 84 F-15 fighters sold to Saudi Arabia.
The deal with Saudi Arabia alone is worth $60 billion.
Dennis Muilenburg is the CEO of Boeing Defense, Space & Security.
"These two deals together would extend both of our production lines by five to ten years," Muilenburg said, "That provides business base for the future, that allows us to invest in next-generation product lines and it allows us to invest in future talent."
Boeing also recently announced the purchase of 10 C-17 Globemaster jets by the Indian Air Force.
The Defense and Commercial sides of Boeing currently have 550 total orders for new aircraft.