Boeing Shares Gain After 747-8 Intercontinental Test Flight

Shares of Boeing Co (BA.N) gained more than 3 percent on Monday, a day after the successful first test flight of the 747-8 Intercontinental.

The flight was a milestone for the aircraft model, which is more closely associated with Boeing than any other commercial airplane.

The new passenger plane has received 33 orders, including an order for 20 from Deutsche Lufthansa AG (LHAG.DE). Korean Air Lines Co Ltd (003490.KS) and VIP customers also have ordered the plane.

Air China Ltd (601111.SS) has agreed to order five Intercontinentals, pending government approval.

The plane lists at $317.5 million.

A freighter version of the 747-8 is already in test flights and is set for delivery in mid-2011.

Boeing shares were up 3.0 percent at $71.17 on the New York Stock Exchange.