Boeing Co. (NYSE: BA) just got two more orders for its new carbon-composite 787 Dreamliner jet. At list price, these orders are worth more than $7 billion, although discounts are norm in the industry.

Air Canada said today it is increasing its original purchase of the 787 commercial aircraft by 23 planes, raising the total order to 37. Deliveries of the plane would start in 2010. The 23 planes carry a list price of about $3.7 billion. Air Canada also reduced its original Boeing 777 firm order by two.

Meanwhile, according to different sources, Virgin Atlantic Airways will also buy 15 planes valued at $2.8 billion at list prices with an option buy up to 24 Boeing 787s Dreamliners.
Virgin and Boeing also announced an environmental partnership that includes a joint biofuel demonstration aimed at developing sustainable fuel sources suitable for commercial jet engines and the aviation industry. The demonstration is being worked jointly with GE Aviation and Virgin Fuels.

Many 787 parts are made of carbon-fiber composites, which are lighter than the metal usually used to build aircrafts, making it more fuel-efficient and resistant to corrosion. The Dreamliner uses 20% less fuel compared to similar sized airplanes and provides airlines with up to 45% more cargo revenue capacity. It is designed to have lower carbon emissions and quieter takeoffs and landings. There is also a new interior environment with higher humidity, wider seats and aisles, larger windows, and other conveniences. The Dreamliner is scheduled to make its first flight in August and to enter commercial service next year.

So far, the Boeing 787 Dreamliner is a big hit with 544 orders from 44 customers (not including today's announced orders). As BA shares reached a new 52-week high today, do they still have room to soar with its Dreamliner? Remember, Prudential upped its target on BA to $103 just yesterday.