Boeing Nears Deal to Salvage 150-Jet Turkish Airlines Order
BA sits 19% above its 52-week low of $176.77 on light trading volume (0.2× avg).
Summary
Boeing is close to finalizing a delayed order for 150 737 MAX jets from Turkish Airlines after the carrier threatened to walk away over an engine maintenance dispute. The deal, part of a 225-jet package announced a year ago, may be signed next week. This removes a major overhang on Boeing's backlog and signals demand resilience for the MAX. GE Aerospace, as co-owner of engine maker CFM, also benefits from the resolution.
At the time of this announcement, BA was trading at $210.08 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $166B. 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 7 out of 10. Source: Reuters.