Ethiopian Airlines Orders Boeing 777 and 777-8 Freighters to Expand Cargo Fleet
BA is trading near its 52-week low of $176.77 (5.5% above the low) on elevated volume (1.8× avg).
Summary
Ethiopian Airlines has placed an order for Boeing 777 and 777-8 Freighters to expand its cargo fleet, including eight 777-8 Freighters and two 777 Freighters. The 777-8F has a maximum structural payload of 118 tons and offers the highest payload and range capability, lowest operating cost per ton. This is a new commercial order for Boeing, adding to its backlog and signaling demand for its freighter aircraft. Ethiopian Airlines is the first African carrier to purchase the world's newest widebody freighter, the 777-8 Freighter, and the order doubles its 777X family order book. The order follows recent positive developments for Boeing, including a $20 billion U.S. Navy contract and a $131.23 billion Air Force contract. While financial terms are not disclosed, the order is a positive signal for Boeing's commercial aircraft division. The order comes amid ongoing labor negotiations with 17,000 engineers, where a strike could halt production of the 777-9, making this order particularly timely. Boeing shares closed at $186.05, down 0.87% on the New York Stock Exchange.
Updated with a dpa-AFX report · What changed
Updates
· dpa-AFX — Boeing shares closed at $186.05, down 0.87% on the New York Stock Exchange.
- The 777-8F has a maximum structural payload of 118 tons.
- The 777-8F offers the highest payload and range capability, lowest operating cost per ton.
At the time of this announcement, BA was trading at $186.58 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $147B. 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: PR Newswire.