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Boeing Books 19 New 777 Orders

August 11, 2011
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(AP) Boeing says it has booked 19 new orders for its 777, and it needs to build commercial planes faster to keep up with demand.

Unidentified customers ordered seven more 777s. Cathay Pacific ordered 12.

Boeing now has a blaclong of 3,400 planes. Some models are sold out for seven years.

Jim Albaugh runs Boeing Co.'s commercial airplane division. He says that backlog is too big, and it's not good to tell customers they have to wait so long.

Boeing is raising production rates. Production of 777s will increase from five per month at the start of this year to more than eight per month by early 2013.

The new 777 orders will be worth more than $5 billion at list prices, although discounts are common.

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