Boeing Company (NYSE:BA) shares are trading higher Thursday after the company announced Pegasus Airlines placed an order for up to 200 Boeing 737-10 airplanes, including a firm order for 100 aircraft. Here's what you need to know.

What To Know: Boeing on Thursday said Türkiye's leading low-cost carrier Pegasus Airlines placed an order for 100 737-10 jets, plus an option to purchase up to 100 additional jets.

The order will support the expansion and modernization of Pegasus Airlines' fleet, focused on the largest model in the 737 MAX family. The 737-10 offers a capacity of up to 230 passengers with a range of 5,740 kilometers, alongside improved fuel efficiency and reduced emissions compared to older models.

This deal underscores growing demand for single-aisle aircraft in Europe and Central Asia, a market Boeing expects to expand significantly over the next 20 years. Pegasus Airlines' purchase of 100 737-10 jets will bring the total orders of the 737 MAX variant to more than 1,200 jets.

"We have been a proud partner of Pegasus Airlines since their inception and we are excited to welcome them as the newest 737 MAX customer," said Stephanie Pope, president and CEO of Boeing Commercial Airplanes.

"We appreciate their trust in the Boeing team and we look forward to delivering on the 737-10 and its promise of greater efficiency, versatility and reliability."

Boeing also highlighted the order's potential to foster collaboration under its National Aerospace Initiative with Türkiye, creating opportunities for Turkish manufacturers and the broader aviation industry. Boeing forecasts that European and Central Asian operators will take delivery of nearly 7,900 single-aisle airplanes over the next 20 years.