Avolon Places Firm Order for 140 Boeing 737 MAX Jets
BA is trading near its 52-week low of $176.77 (6.7% above the low).
Summary
Avolon, a major aircraft lessor, has placed a firm order for 140 Boeing 737 MAX aircraft, alongside 110 Airbus jets. The order is subject to shareholder approval by Bohai Leasing, Avolon's majority owner. This adds to Boeing's strong order momentum, following recent deals with SMBC Aviation Capital and Riyadh Air. The order size is material for Boeing's backlog and supports the 737 MAX production ramp. Avolon also disclosed a $1.5 billion commercial paper program and a fleet of 1,092 aircraft, pro forma 1,342 with the new orders.
At the time of this announcement, BA was trading at $188.53 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $148.4B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.