BOEING EYES $50 BILLION TARGET

BOEING SIGNS NEARLY $1 BILLION OF SERVICES DEALS.

SINGAPORE:

Boeing's services unit announced on Tuesday deals worth nearly $ 1 billion as part of its efforts to more than triple the division's annual revenue of $50 billion in as little as five years.

The jet manufacturer has been looking to boost revenues in its services business which involves  jet maintenance, repair and overhaul  [MRO], data analytics and pilot training.

Revenue grew by 5.5 percent to $14.6 billion in 2017 and the growth rate is forecast to be even higher this year.

Boeing Global Services CEO Stan Deal told Reuters at the Singapore Airshow.

''Over the next 5 to 10 years we are going to accomplish that as a stretch objective,'' he said of the $ 50 billion target, adding it will ''clearly involve'' acquisitions.

Deal said areas of interest for acquisitions included aircraft interiors and data analytics.

The agreements announced on Tuesday included landing gear exchange deals with Japan's ANA Holdings Inc and  Malaysia Airlines and an order from cargo group DHL for 767-300 ER converted freighter.

[Agencies]