Boeing Co (NYSE:BA) is outselling its largest rival, Airbus, by an incredibly wide margin so far this year.
Over the past week, in fact, Boeing landed some $42 billion in new aircraft sales deals. While Airbus just inked a record deal for its largest single aircraft order in company history, as Business Insider reports, Boeing is still head and shoulders above its French foil:
Dubai’s airshow has become a highlight of this year’s race for sales supremacy between the two companies. Overall, Boeing has been eating Airbus’s lunch so far this year, out-selling the Toulouse, France-based planemaker by 690 to 343.
Boeing’s success in Dubai is no accident.
For the Government of Dubai, the 265 jets its airlines agreed to buy from America’s largest industrial exporter is a not-so-subtle show of the Emirate’s impact on the US economy.
While U.S. airlines are complaining about Middle Eastern carriers stealing their business, Boeing’s domestic employees are sure to benefit greatly from the influx of new plane orders. Once finalized, Boeing says the Middle East orders will “sustain tens of thousands of direct and indirect jobs in Boeing’s U.S. factories and network of suppliers.”
And there’s more to come. Several more plane deals are expected before the end of this year, giving Boeing investors even more reason to celebrate a stock that’s one of the U.S. market’s very best large cap performers in 2017.
Boeing Co shares fell $1.50 (-0.57%) in premarket trading Friday. Year-to-date, BA has gained 73.65%, versus a 17.26% rise in the benchmark S&P 500 index during the same period.