Boeing win A$4B booking from Australia for eight spy planes

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA) has received an order from Australia for eight of the company's P-8A Poseidon long-range spy planes in a deal worth A$4B ($3.6B). Australia has also taken an option for a further four aircraft, which is based on the 737.

The booking is a jolt for Boeing's defense division, whose sales have been hurt by cuts in U.S. military spending.

With tensions increasing in Asia-Pacific, demand for military products could be on the rise.