Boeing Union Backs New Contract, Turkish Airlines Orders Up to 150 MAX Jets
BA is trading near its 52-week low of $176.77 (14% above the low).
Summary
Boeing's engineering union leadership recommended its 17,000 members accept the latest four-year contract offer, removing a key operational risk ahead of the Oct. 6 expiration. CEO Kelly Ortberg had warned a strike would halt 777X certification testing and disrupt 737 MAX assembly. Turkish Airlines signed a deal to purchase up to 150 Boeing 737 MAX aircraft (100 firm, 50 options), and Biman Bangladesh agreed to buy 11 additional jets on top of its $3.7B order. These orders add to Korean Air's 103-aircraft deal finalized Sept. 16. The labor endorsement and order momentum support execution of Boeing's $715B backlog and MAX 10 certification efforts.
At the time of this announcement, BA was trading at $201.73 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $159.4B. 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: Benzinga.