Copa places $1bn Boeing 737 order

Copa Airlines plans to expand its existing fleet

Latin American firm Copa airlines has ordered 13 Boeing 737-800 planes, worth $1bn (£607m) at list prices.

In addition to earlier orders, this brings the total number of 737 planes Copa has committed to buy to 27 units.

The 13 newly-ordered planes are set to be delivered between 2012 and 2015. Copa also has options to buy a further eight in the future.

US firm Boeing has been hit by the downturn as airlines have reduced services and postponed aircraft orders.

Shares in Boeing rose after the Copa announcement, adding 1% at just over $41, but in contrast Copa shares slid 2.9% at $40.03.