NEW YORK (AP) -- Boeing has finalized a $56 billion agreement to build 150 777X aircraft for Dubai's Emirates Airline.
The order's value is based on list prices, which can vary greatly after negotiations.
The 777X is a larger and more fuel-efficient model of Boeing Co.'s popular 777 wide-body and Emirates is the world's largest operator of those planes.
The companies first announced a commitment to do the deal at the Dubai Airshow in November. Included in the order are 115 777-9Xs and 35 777-8Xs. The list price for the 400-passenger 777-9X is $377.2 million, while the list price for the 777-8X — which can carry up to 350 passengers — is $349.8 million.
Emirates Airline also has purchase rights for an additional 50 aircraft. If exercised, it could raise the value of the deal to about $75 billion, again, at list prices.
Production of the 777X is expected to start in 2017, with first delivery targeted for 2020.
Last month Boeing, based in Chicago, signed a deal for five Japanese companies to make key components for its twin aisle 777X jets but the contract doesn't include the wings, which were a source of delays for the 787 Dreamliner. The Japanese manufacturers will make about 21 percent of the new plane's structural components, including fuselage sections and landing gear wells.
Boeing has finalized a $56 billion agreement to build 150 777X aircraft for Dubai's Emirates Airline.