$ 4.9B contract in Indonesia

4 Boeing Co., the world’s biggest planemaker, won an order from PT Garuda Indonesia for 50 single- aisle planes as economic growth encourages more people to travel by air.

The contract, worth $ 4.9 billion at list price, is for 46 737 Max 8s and four to be converted from an existing order of 737- 800s, Boeing said in a statement. The Indonesia airline currently operates 77 of the narrow- body 737s.

The state- controlled Garuda is competing with PT Lion Mentari Airlines in amarket where passenger numbers are expected to increase. Carriers in Southeast Asia are buying aircraft to serve amarket of about 600 million people, roughly equal to Brazil, Germany and the U. S. combined.