Asia Tech Wire (June 11) -- Boeing will receive a $2 billion 737 Max order from Israeli airline EL AL.

EL AL Israel Airlines Ltd. will enter into exclusive negotiations with Boeing Co. and aircraft lessors for about 30 Boeing 737 Max airplanes in an order that will cost $2 billion to $2.5 billion, the airline said in a statement Monday.

The planes will gradually replace EL AL's existing 737-800 and 737-900 airplanes, the statement said.