Boeing signs $3.7bn Russian contract

Boeing 737-700 in flight over mountains
Image caption The order will help Aeroflot update its fleet

US aerospace giant Boeing has announced a contract worth $3.7bn (£2.4bn) to sell 50 of its 737 planes to state-owned Russian Technologies.

The aircraft will be used by Russian airline Aeroflot, which signed a partnership agreement with Russian Technologies earlier this year.

The Russian company has also reserved the right to order 35 more planes.

Boeing said the supervisory board of Russian Technologies would review the contract in October.

"Russian Technologies' choice of Boeing's planes is yet another important step in our long-term co-operation," said Boeing Commercial Airplanes chief executive Jim Albaugh.

Mr Albaugh and Russian Technologies chief Sergei Chemezov signed the contract during an investors' forum in Russia's Black Sea resort city of Sochi.

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