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Home Investing Boeing lands the largest order for wide-body aircraft in U.S. history
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Boeing lands the largest order for wide-body aircraft in U.S. history

by December 13, 2022
by December 13, 2022 0 comment
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Boeing Co (NYSE: BA) is in focus this morning after United Airlines Holdings Inc (NASDAQ: UAL) said it will buy 100 of its 787 Dreamliners – the largest order for wide-body aircraft in the U.S. history.

Boeing CEO Dave Calhoun’s remarks

It also has the option to buy another 100 of those from Boeing and expects deliveries between 2024 and 2032. Discussing what he dubbed a “cornerstone order” with CNBC’s Phil LeBeau, CEO Dave Calhoun said:

This is remarkable in many respects. This order is a testimony of the post-MAX Boeing, in my opinion, and the 787 in particular – an order that substantiates what this airplane means to the world.

Also on Tuesday, Boeing said it delivered 48 aircrafts in November versus 35 in the prior month. In total, the multinational has now delivered 411 planes in 2022.

For the year, Boeing stock is still down roughly 10%.

Boeing to further boost deliveries next year

Last month, the Arlington-headquartered company said it will ramp up production and aim to deliver as many as 80 787s next year. The FAA cleared that plane for deliveries in August as Invezz reported here.

CEO Calhoun agreed that the supply chain constraints were still lingering but said:

Slowly and steadily, we’ll overcome those constraints. I expect next year to be tough and get beyond this in the following year. I’m very confident that this airplane and that production rate, we will see that through.

He’s committed to free cash flow of between $3.0 billion and $5.0 billion next year. Those interested in buying Boeing stock on today’s news should know that Wall Street rates it at “overweight” as well.

The post Boeing lands the largest order for wide-body aircraft in U.S. history appeared first on Invezz.

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