Takeaways
- Boeing shares jumped as Emirates announced the purchase of 95 Boeing planes worth $52 billion.
- The deal included 777-9s , 777-8 and 787 Dreamliners.
- China is also reportedly considering signing up to buy 737 Max jets.
Boeing (BA) was the best-performing stock on the Dow on Monday, with its shares jumping 4% after Emirates, Dubai's government-owned airline, said it was buying 95 Boeing wide-body jets. additional, worth $52 billion.
Boeing said the deal included 55 777-9s, 35 777-8s and 5 787 Dreamliners. The deal will give Emirates, which is already the largest 777 operator, a total order book of 205 of the planes. The Dreamliner acquisitions would add to its current order of 30 units.
Stan Deal, President and CEO of Boeing Commercial Airplanes, called Emirates' decision “an incredible vote of confidence” in the company's wide-body aircraft.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and Group, noted that since the beginning, the airline's model has been to operate modern and efficient wide-body airliners, capable of transport large numbers of passengers over long distances to and from Dubai. He added: “Today’s aircraft orders reflect this strategy. » The executive noted that Emirates looked forward to the arrival of its first 777-9s in 2025.
Boeing also received a boost as China reportedly considers committing to purchase 737 Max planes as US President Joe Biden and Chinese President Xi Jinping are preparing to meet at the APEC summit in San Francisco this week. .
With Monday's earnings, Boeing shares are up more than 4% year to date.
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Source: investopedia.com