Russia to Buy 50 Boeing 737s Worth $4 Billion

President Obama says sale could create 44,000 jobs

President Barack Obama on June 24 said that Russia was buying 50 Boeing aircraft valued at four billion that could create 44,000 jobs in the struggling U.S. economy.

Obama, speaking after White House talks with Russian President Dmitry Medvedev, said the order was part of a broad array of major trade and investment deals between the two countries.

"Consistent with my administration's national export initiative, this includes the sale of 50 Boeing aircraft worth four billion dollars that could add up to 44,000 new jobs in the American aerospace industry," Obama said.

In a statement released after Obama's comment, Boeing said that it had signed a document with the Russian state corporation Rostechnologii "confirming the decision by Rostechnologii to place an order for 50 Boeing Next-Generation 737 airplanes."

Touting "the economic benefits and operating efficiencies" of the Next-Generation 737, Boeing said the planes would "directly support Rostechnologii's plan to provide Russian airlines with efficient and reliable airplanes that will help them to consolidate and grow their domestic and international operations."

Last week Boeing announced a second production rate increase on the Next-Generation 737 program, taking the rate from the rate of 34 airplanes per month, previously announced in May, to 35 planes in early 2012, citing continued strong demand.

Copyright Agence France-Presse, 2010

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