Boeing wins anti-sub aircraft contract...

Published: Jun 15, 2004
Source: www.reuters.com



CHICAGO (Reuters) - Shares of Boeing rose 1.5 percent early Tuesday following a nearly $4 billion contract win to supply submarine-hunting aircraft to the U.S. Navy, a victory some analysts said was a surprise.



The news of the Multi-mission Maritime Aircraft award to Boeing came after Monday's market close.



Credit Suisse First Boston analyst Jim Higgins said in a research note that the value of the program to replace the Navy's P-3 Orion fleet of 223 aircraft with as many as 109 modified 737s over a 10-year production run was estimated at $15 billion to $20 billion.continue..

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