Boeing Co said on Monday it has finalized a deal with Russia's Transaero Airlines for four 787-8 Dreamliners, worth $744 million at list prices.

Boeing's Dreamliner is a lightweight carbon-composite aircraft that was three years late to market but is popular with customers. The plane-maker, which competes for orders with EADS unit Airbus, has about 850 orders for the plane on its books.

Boeing last week said it delivered 137 commercial airplanes in the first quarter, up 32 percent from the same period a year earlier.

The company is increasing production on all of its commercial airplane models to meet increased demand. The company also is ramping up production on the 787 to 10 per month by the end of next year.

(Reporting By Kyle Peterson; Editing by Gerald E. McCormick)