Discounts for new airplanes typically range between 25% and 30% whether the aircraft is built by The Boeing Co. (NYSE: BA) or Airbus NV, the world’s two largest aircraft makers. But a recent note from an analyst at UBS suggests that Boeing has discounted some of its new planes even more.

The company is believed to be offering discounts of 59% on Boeing’s current 737 and 54% on the 777. The latest addition to Boeing’s shopping list, the 787 Dreamliner, is being offered at discounts of up to 46%. The current list prices for the 737 planes are $78.3 million for the -700, $93.3 million for the -800, and $99 million for the -900. The recently introduced MAX list prices are $87.7 million for the MAX 7, $106.9 million for the MAX 8, and $113.3 for the MAX 9.

The reason Boeing can offer the steep discounts on the 737 is that the plane has been in production for years and has paid back many times over its initial design and development costs. The same is true for the 777 family of planes with prices of $269.5 million for the -200ER, $305 million for the -200LR, $330 million for the -300ER, and $309.7 million for the -200LRF. The -8X comes in at $360.5 million and the -9X at $388.7 million.

According to aircraft industry consulting and analysis firm Leeham, there are reports of Boeing selling its 787-9 for $135 million or less compared with a list price of $257.1 million. A 787-8 that carries a list price of $218.3 million can be had for $115 million. The widebody 777-300ER is being offered at $128 million, a discount of nearly 62% from the list price.

Boeing is reacting to comments from Airbus that the European aircraft maker can price its current version of the A330 up to 25% below the 787. Boeing cannot afford to slash its price on the Dreamliner because it has not yet amortized the full cost of development, which has been reported to be as high as $32 billion. Airbus’s forthcoming A330neo could also be more steeply discounted than Boeing’s 787, perhaps forcing Boeing to discount the plane even more aggressively and increase the amount of time it would take the company to amortize those massive cost overruns.

Boeing’s stock is down more than 9% year-to-date as investors bailed out when the company reported fourth-quarter 2013 earnings in January, shortly after the stock hit its 52-week high. The company’s guidance at the time was sharply below the consensus estimates. In the first half of this year, Boeing has benefited from lower expectations and tax benefits totaling more than $500 million. The company raised its full-year guidance when it reported second-quarter results, but the share price did not respond positively. Shares have bounced back by more than 3.5% in the past five trading sessions.

Shares closed on Thursday at $124.11 in a 52-week range of $102.57 to $144.57. Shares are trading up about 0.6% Friday morning following an announcement Thursday night that it has won a contract to buy parts to produce an additional 12 copies of its P-8A Poseidon spy planes for the U.S. Navy and the government of Australia.

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