Riyadh Air Eyes 25-30 More Boeing 787s, May Top Up Airbus Orders
BA sits 22% above its 52-week low of $176.77.
Summary
Riyadh Air is studying the conversion of 25-30 Boeing 787 options into firm orders, potentially announced at next week's Farnborough Airshow. The Saudi startup, which already has 39 firm 787 orders and 33 options, may also convert some of its 25 Airbus A350 options. This follows a series of positive demand signals for Boeing, including a 200-jet China order in May and a surge in April orders to 136 units. The potential order would further strengthen Boeing's widebody backlog and signal sustained airline confidence in the 787 program.
At the time of this announcement, BA was trading at $215.87 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $170.2B. 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.