Boeing Lands 28 More 787 Orders from Riyadh Air, Expanding Fleet Deal
BA sits 22% above its 52-week low of $176.77.
Summary
Boeing signed a deal with Riyadh Air for 28 additional 787 Dreamliners, exercising most options from the airline's 2023 order and converting 20 aircraft to the larger 787-10 variant. The agreement also includes an earlier undisclosed purchase of 11 widebody jets. Once the remaining 17 aircraft are finalized, Riyadh Air's firm order book will reach 67 Boeing 787s. This follows a string of positive order news for Boeing, including a 200-jet China deal in May and a 100-plane SMBC order earlier today. The 787-10 offers about 50 more seats than the 787-9 while cutting fuel use and emissions by 25%, making it attractive for fleet expansion. The deal reinforces Boeing's commercial momentum and backlog growth, a key metric for the stock.
At the time of this announcement, BA was trading at $216.50 on NYSE in the Manufacturing sector, with a market capitalization of approximately $168.7B. 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.