Boeing Stock Rockets as Massive 787 Order Lifts Spirits, Yet Ominous Decline Looms

[ad_1] Boeing Receives Big Dreamliner Order and Plans Record Production of 737 Jet as Air Travel Rebounds Boeing, the aerospace giant, has received a significant order for its 787 Dreamliner and is reportedly planning record production of its popular 737 jet as air travel begins to recover. The news comes as Boeing stock edges up from multimonth lows. Late on Tuesday, United Airlines announced an order for 110 aircraft, including 50 Boeing Dreamliner widebody jets. The order also includes 60 Airbus A321 narrow-body jets. Deliveries are set to begin in 2028. United said that it converted purchase options and rights into firm orders. Additionally, United announced new options for up to 50 more Boeing 787s and new purchase rights for up to 40 A321neos at the end of the decade. Sources have revealed that Boeing plans to increase production of its top-selling 737 narrow-body jet to 57 per month by July 2025, which would be a record high. This move comes as Boeing continues to recover from the grounding of the 737 in 2019 following two fatal crashes and the subsequent impact of the Covid-19 pandemic. Prior to 2019, Boeing was producing 52 737s a month and was on track to reach a goal of 57. Shares of Boeing stock rose 0.6% to $188.92 on Tuesday, leading advancing stocks on the Dow Jones index. However, the stock remains in a two-month downtrend as investors focus on the company's actual plane production ramp rather than swelling orders. In addition to Boeing's challenges, Spirit AeroSystems, which supplies parts for the 737 and 787 jets, recently fired its CEO Tom Gentile. The company has faced production disruptions throughout 2023. Spirit stock fell 0.6% on Tuesday, reaching its lowest level since the pandemic began. Airbus, Boeing's main competitor, saw its stock decline 1.2% to $32.54. The company is currently working on a buy point of $37.67 from a flat base, according to MarketSmith chart analysis. Airbus stock is currently at six-month lows. For more information and stock market updates, visit the Investors.com website. YOU MAY ALSO LIKE: - These Are The 5 Best Stocks To Buy And Watch Now - Stocks To Watch: Top-Rated IPOs, Big Caps And Growth Stocks - Find The Latest Stocks Hitting Buy Zones With MarketSmith - Why This IBD Tool Simplifies The Search For Top Stocks [ad_2] https://market-news24.com/stocks/boeing-stock-rockets-as-massive-787-order-lifts-spirits-yet-ominous-decline-looms/?feed_id=71277&_unique_id=651d9754a34cc

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