Boeing Shares Surge On Orders From Major Middle Eastern Airlines: What You Need To Know
Portfolio Pulse from Lekha Gupta
Boeing Company (NYSE:BA) shares rose approximately 3% following the announcement of new contracts with Middle Eastern airlines at the Dubai Airshow. Emirates ordered 90 777X airplanes, increasing their backlog to 205, and added five more 787 jets to their order. flydubai placed an order for 30 787-9 Dreamliners, and Royal Jordanian ordered four 787-9 Dreamliner jets. Boeing's 2023 Commercial Market Outlook anticipates widebody airplanes will represent 45% of Middle East airline deliveries over the next 20 years. Despite a strong quarter in revenue, Boeing's adjusted loss per share was wider than expected.
November 13, 2023 | 1:35 pm
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Boeing's stock increased by 3% due to significant orders from Emirates, flydubai, and Royal Jordanian for its widebody jets, indicating strong demand for its aircraft in the Middle East.
The surge in Boeing's stock price is directly attributed to the announcement of new orders from major airlines, which is a strong indicator of the company's future revenue growth and market confidence. The positive impact on the stock is likely to be sustained in the short term as the market absorbs the news of these significant deals.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100