In Business This Week
THE BRITISH ARE COMING--TO BOEING
General Electric and Boeing got a burst of good news on Aug. 21, when British Airways announced it was ordering 15 Boeing 777 jets powered by GE90 engines.
The deal is a huge coup for GE, whose engines beat out competitors from Britain's Rolls-Royce. GE, which will collect $700 million on the deal, is spending heavily to break into the $50 billion market for engines for big new widebodies. Last year, it lost out when United Airlines opted to give its $1.6 billion engine order to Pratt & Whitney. For Boeing, the $3.6 billion BA order is a big relief. While United has bought 34 of the jets and All Nippon Airways wants 15, sales have otherwise been disappointing.EDITED BY PETER FINCH