P.M. BRIEFING : Continental Orders 50 757 Jets
HOUSTON — Despite rising fuel prices, Continental Airlines said today it has ordered 50 new Boeing 757 jets in anticipation of long-term growth.
The deal--including an option to buy 25 more aircraft as well as engines and spare parts--is valued at about $1.2 billion and will be financed largely by the manufacturer, Continental said in a statement.
“We’re looking at the long-term needs of the airline,” spokesman David Messing said. “We know we have higher fuel prices, and some expect a recession, but we want to add capacity for when the economy returns to strength.”
The 757, a twin-engine aircraft that seats up to 190 passengers, will replace older aircraft when delivery begins in May, 1993.
Messing also said the order will help the airline save money if fuel prices remain high because the 757s are more fuel-efficient than other models.
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