updated 11/28/2006 8:11:56 AM ET 2006-11-28T13:11:56

German budget carrier Air Berlin said Tuesday it is ordering 60 new Boeing 737 jets as it works to secure its future growth.

Air Berlin did not specify how much it would pay. However, the company noted that its acquisition of German rival dba also included a purchase agreement for 25 other 737s from Boeing Co. and the company put the total list price at $5.7 billion for the 85 planes it expects to be delivered between 2007 and 2014.

Air Berlin, Germany’s second-biggest airline after Lufthansa, recently acquired dba to expand its domestic business. The company said it was ordering the new aircraft to keep up with European competitors.

“By awarding this large contract, we are securing a favorable delivery price for the long term,” CEO Joachim Hunold said in a statement. “The new planes are meant to replace expiring leasing contracts and to secure future growth.”

Air Berlin currently has 62 planes in its fleet, while dba has 29.

Also on Tuesday, the company said third-quarter net profit rose 27 percent to $50.8 million (38.7 million euros) from 30.6 million euros in the same period a year earlier. It included dba in its accounts starting in September.

Sales rose 28 percent to 510 million euros ($670 million).

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.03%
$30K home equity loan FICO 5.68%
$75K home equity loan FICO 4.87%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com