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BA shares rise: Boeing to sell up to 200 Dreamliner jets to United Airlines in ‘historic’ deal




Boeing (BA) announced a major order for 787 Dreamliner widebody jets and more from United Airlines (UAL) Tuesday. BA shares rose early on Tuesday after rising in a buy zone on Monday. UAL shares fell slightly.




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United Airlines will buy 100 Dreamliners with an option to buy 100 more. The Boeing 787 Dreamliners, to be delivered between 2024-2032, will replace the Boeing 767 and some of its Boeing 777s.

United Air will also buy an additional 56 Boeing 737 Max narrowbody aircraft and training options for 44 more.

A large order was expected.

Late last week, a leaked invitation showed the Dow Jones aviation giant and United planned a joint “historic announcement” at Boeing’s South Carolina facility. It is where Boeing makes all 787 variants.

The Wall Street Journal had previously reported that United was looking to order about 100 planes.

Aircraft manufacturers and their airline customers are seeing demand for commercial aircraft recover from a year-long hit due to Covid-19 travel restrictions. Meanwhile, Boeing is restructuring following a series of industry-wide and company-specific challenges.


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BA Share

Boeing’s shares rose 2.2% to over 190 before opening on the stock exchange today. On Monday, Boeing shares fell 3.7% to 186.18. That pushed BA stock beyond the 5% hunt zone from a 173.95 buy point for a cup base.

BA stock had closed in buy territory above an alternative entry near 180, from the recent mini-consolidation. But it can also open slightly extended from that area.

The Dow Jones made choppy progress from the Nov. 10 breakout past the cup-shaped entry. The relative strength line for Boeing stock is at its best levels since February, a sign of better performance compared to the S&P 500 index.

UAL shares fell 1% early Tuesday. The stock rose 2.8% on Monday to 44.24.

Boeing Eyes Air India Deal

Meanwhile, sources told Reuters on Sunday that Air India is close to ordering 500 jets worth tens of billions of dollars from both Boeing and Airbus (EASY).

The order will rank “among the largest by a single airline by volume”, the news report states. That would even eclipse “a combined order for 460 Airbus and Boeing jets from American Airlines over a decade ago.”

Air India is undergoing a financial restructuring after diversified, privately held Indian heavyweight Tata Group took back control of the airline in January. Tata Group is also the parent Tata Motors (TTM).

The timeline for an official announcement of the order is unclear. But Reuters said the sources requested anonymity because “the finishing touches are (expected) to be put on the mammoth deal in the coming days.”

EADSY stock rose 1.9% on Monday. TTM stock rose 0.1%, below its 50-day moving average, on Monday.

India is the world’s fastest growing air travel market, according to Reuters.

At an investor day on Nov. 9, Boeing provided a free cash outlook well above Wall Street’s estimates on expectations of rising jet deliveries. It lifted BA shares by more than 5% the following day.

During the pandemic, Boeing suffered from the collapse in commercial and business flights, which knocked BA shares. That compounded the grounding of the global 737 MAX fleet after two fatal crashes in 2018 and 2019. The company also faced setbacks in key defense programs.

In addition, fears of recession and supply disruptions are now rippling through industrial production chains, including airlines.

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