Boeing (BA) receives a new order for 737 Max planes from British Airways' parent company

NYSE: BA | Boeing Company (The)  News, Ratings, and Charts

BA – IAG said it would buy 200 737 Max planes, orders for which ground to a halt after two fatal crashes.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

KEY POINTS
  • IAG said it would buy 200 737 Max planes, orders for which ground to a halt after two fatal crashes.
  • The orders are worth $24 billion at list prices, but airlines often receive discounts when purchasing planes.
  • The 737 Max has been grounded worldwide since mid-March.

Boeing shares climbed on Tuesday after the manufacturer of the 737 Max jets said British Airways’ parent company placed the first order for the beleaguered planes since their grounding in mid-March.

International Airlines Group signed a letter of intent at the Paris Air Show to purchase 200 Boeing 737 Max planes.

Aviation authorities grounded the Boeing 737 Max worldwide after two crashes within five months killed a total of 346 people. Boeing and airlines are awaiting approval from regulators to resume flights with the jets, but officials have said they have no firm timeline so far.

Boeing shares were up more than 3% in midday trading, outpacing the broader market.

IAG will use the jets order, which includes the 737 Max 8 and the larger Max 10 that Boeing is developing, across its airlines, including Vueling and low-cost carrier Level, it said.

“We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months having received approval from the regulators,” said IAG’s CEO Willie Walsh.

Boeing cut 737 Max production by a fifth and suspended deliveries of the planes after they were grounded.

 

 

 

 

 


BA shares were trading at $370.26 per share on Tuesday afternoon, up $15.36 (+4.33%). Year-to-date, BA has gained 16.05%, versus a 17.59% rise in the benchmark S&P 500 index during the same period.

 

 

 

 

 


This article is brought to you courtesy of CNBC.

More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
BAGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

NASDAQ: TLT | iShares 20+ Year Treasury Bond ETF News, Ratings, and Charts

A Clear-Cut Strategy for Range-Bound Bonds

Today's featured article gives readers a clear cut strategy for range-bound bonds. Continue reading to find out more details.
NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

Who Is Likely to Win the White House in 2020 & What it Means for Stocks

Today's featured article covers the Dow Jones and what to expect from the 2020 Presidency...Continue reading for more details.
NASDAQ: HELE | Helen of Troy Limited News, Ratings, and Charts

Is HELE the World’s Most Beautiful Stock?

HELE is the perfect stock for the times. Quality earnings outlook + value + lower volatility. That is why its our Stock of the Week.
NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

3 Trading Strategies for 3 Market Outcomes

The S&P 500 (SPY) likely has hit a near term top at 3,100. Let’s discuss the 3 possible next steps for stocks and the best trading strategies. Also discover the Stock of the Week.
: ACB | Aurora Cannabis Inc. Common Shares News, Ratings, and Charts

Why is Thursday Such an Important Day for Aurora Cannabis (ACB)?

Aurora Cannabis was expected to be profitable by the end of 2019, but announced last quarter their estimates were pushed back to 2020.

Read More Stories


More Boeing Company (The) (BA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All BA News
Page generated in 1.4755 seconds.Array ( [0] => BA )