Boeing Co said the U.S. Department of Defense had awarded it a follow-on contract valued at up to $23.8 billion to provide services to a fleet of C-17 Globemaster III transport aircraft over ten years.
Under the agreement, the planemaker said that Boeing would continue to provide services including engineering, field support, and material management for a fleet of 275 aircraft managed by the United States Air Force and eight global partners.
Boeing will also lower operating costs per flight hour for the fleet under the new agreement, it said.
The new agreement is currently funded through September 2024, the company said, with a Phase I award of $3.5 billion.
737 MAX test flight for China's aviation regulator last month was successful, and the planemaker hopes a two-year grounding will be lifted this year, the head of Boeing's China business said on Wednesday.
The ban, which has been lifted in the West and several Asian countries, could be eased in China around November.
Boeing Co provided the biggest lift to the Dow after a 3.2% rise following China's aviation regulator's successful 737 MAX test.
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