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Boeing, Jetlines announce order for five 737s

Boeing Co. announced an order for five 737 MAX 7 planes from Jetlines, a new low-cost carrier in Canada.

The order was valued at $438 million based on list prices and includes a purchase options for another 16 jets, Boeing said Monday.

“This agreement with Boeing is a major milestone for Jetlines,” Jim Scott, CEO of Jetlines, said in a statement. “We are thrilled to be partnering with Boeing and look forward to introducing the 737 MAX 7 into our fleet.”

The new airline plans to offer low-cost airfares on routes that avoid direct competition with other airlines.