BOEING SET TO WIN $2 BILLION 737 MAX ORDER FROM ISRAEL’S EL AL

(Bloomberg) -- Boeing Co. is closing in on its second-largest order for the 737 Max jet this year from El Al Israel Airlines after a near-catastrophic accident on the model in January put the planemaker into crisis mode.

The airline will conduct exclusive negotiations with Boeing and aircraft lessors for about 30 Boeing 737 Max aircraft, the carrier said in a statement Monday. The narrow-body jet order, including replacement engines and spare parts, will cost between $2 billion to $2.5 billion.

The single aisle planes will gradually replace El Al’s existing 737-800 and 737-900 jets, according to the statement. The carrier, which operates an all-Boeing narrow-body and wide-body fleet, had been considering a proposal from European planemaker Airbus SE.

This would be Boeing’s second-largest deal for the jet in 2024, behind an American Airlines Group Inc. order for 85 of the narrow-body aircraft in March. The US planemaker has come under fire from regulators, lawmakers and airlines following the January accident in which a fuselage panel blew off a 737 Max mid-flight.

--With assistance from Alisa Odenheimer and Julie Johnsson.