Boeing (BA-0.01%) secured a massive deal to manufacture planes for Qatar Airways, according to the White House.
The deal calls for up to 210 planes, a combination of 787 Dreamliner and 777X aircraft, to be built by Boeing using engines from GE Aerospace (GE-0.36%). It’s “Boeing’s largest-ever widebody order and largest-ever 787 order,” the White House said in a fact sheet it circulated Wednesday.
The deal, which is worth $96 billion, will create 154,000 U.S. jobs annually and over one million U.S. jobs in total during production and delivery, according to the release. The announcement came while President Donald Trump is in Qatar on an official state visit.
The agreement is a rare bright spot for Boeing. The company hasn’t turned an annual profit since 2018, the same year that one of its 737 Max jets crashed into the Java Sea, killing all 189 people on board. Another 737 Max crash the following year and a door plug blowout aboard an Alaska Airlines (ALK+0.78%) flight in 2024 created a rough few years for the company. Since the Alaska Airlines incident last January, the Seattle-based firm has faced intense FAA scrutiny and other technical issues that have led to manufacturing delays.
In April, China told its airlines to stop accepting planes from Boeing in retaliation for President Trump’s tariffs on the nation.
However, on Sunday, it was announced that Qatar is gifting Trump a $400 million Boeing plane for use as Air Force One. Some GOP lawmakers have expressed national-security concern over the potential exchange, while the president has defended it. “Only a FOOL would not accept this gift on behalf of our Country,” he posted on his Truth Social app. During an interview with Sean Hannity on Fox News (FOX-0.91%) on Tuesday, he called critics of the deal “stupid.”
Boeing stock was up 1% Wednesday afternoon.
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