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January 23, 1996|Times Staff and Wire Reports

Boeing Wins $4 Billion Order From GE Leasing Unit: General Electric Co.'s GE Capital Aviation Services has placed orders for up to 259 Boeing Co. jets worth at least $4 billion. The leasing unit said it ordered five of Boeing's new wide-body 777 models and 102 narrow-body 737 airplanes for delivery beginning in late 1996 and continuing at a rate of about 25 per year. The GE unit has taken options for an additional 76 of the 737s after the firm orders are delivered and has the right to buy another 76 of the twin-engine jets under the agreement. Analysts said the order was bigger than expected and is the latest sign of the worldwide airline industry's health after a five-year downturn. The leasing unit is in talks with Europe's Airbus Industrie over possible aircraft purchases.

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