Southwest buys 150 new Boeing 737s

Southwest Airlines announced Monday morning that it will buy 150 Boeing 737 MAX and that it will be the first customer to receive the new re-engined aircraft in 2017.

The Dallas-based carrier said the aircraft will increase its fleet's fuel efficiency as it retires older 737 models.

"Today's environment demands that we become more fuel-efficient and environmentally friendly, and as the launch Customer of the Boeing 737 MAX, we have accomplished both," said Southwest chief executive Gary Kelly in a statement.

Financial details of the transaction were not released and Boeing has not unveiled the price tag of a Boeing 737 MAX. Current 737 next-generation models, which include the Boeing 737-700, 737-800 and 737-900 cost around $80 million a piece.

Southwest announced it is also purchasing an additional 58 Boeing 737 next-generation models and has substituted Boeing 737-800 models for all of its existing Boeing 737-700 aircraft deliveries in 2012 and 2013.

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