January 26, 2011 8:16 PM

Boeing awarded $1.6 billion contract to build Navy aircraft

Boeing has received a $1.6 billion contract from the U.S. Navy for initial low-rate production of the P-8A Poseidon aircraft. The Navy plans to buy 117 of the aircraft, which is a derivative of Boeing's 737-800 single-aisle commercial aircraft. Initial operational capacity is planned for 2013.

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