Boeing’s product line is seeing renewed interest, particularly with recent sales boosting the company’s stock performance. Following a series of transactions over the past few weeks, Boeing shares experienced a modest increase during Friday’s trading session.
A significant development came when International Airlines Group (IAG), the parent company of British Airways, announced plans to acquire 71 long-haul aircraft. This order includes 32 Boeing 787-10 models and six 777-9 aircraft, with the remaining aircraft being supplied by Airbus. This decision came on the heels of IAG reporting better-than-expected earnings for the first quarter, prompting CEO Luis Gallego to finalize this long-discussed procurement as part of a strategic expansion in response to Boeing’s extensive backlog.
In another noteworthy sale, China Airlines—based in Taiwan—ordered 10 777-9 and four 777-8 freighters. This order enhances the airline’s long-haul capabilities and positions it as the first carrier in Taiwan to operate the 777X series, contributing to increased capacity for routes to the U.S. and Europe. The company president emphasized that the 777-9 will improve the travel experience for passengers, further highlighting the aircraft’s appeal in the region.
On Wall Street, Boeing’s stock is rated with a “Moderate Buy” consensus based on a review of recent analyst ratings, indicating a positive outlook for potential investors. Over the past year, Boeing’s share price has risen by nearly 9%, showcasing a solid performance with the average price target suggesting further upside potential.
Overall, these recent developments surrounding Boeing’s transactions paint a picture of a company positioned for growth and expansion, despite existing challenges. This upbeat sentiment reflects confidence in the aerospace giant’s future, driven by strategic partnerships and ongoing demand for its aircraft.