Boeing shares jump on Lufthansa purchase
Boeing, all-sessions, rises on news that Lufthansa will buy up to 100 of the company’s 737 MAX jets.
Airbus signs purchase deals with the German carrier too. IG financial analyst Angeline Ong looks at the details and future purchasing options in the pipeline.
(AI Video Summary)
Lufthansa jet purchase causes rise in Boeing's stock
Boeing's stock is currently making waves as it has shown considerable movement. It has increased by about 0.5%, which can be attributed in part to a major deal struck with Lufthansa, a German airline. Lufthansa recently placed an order for 80 planes from both Boeing and Airbus, with the potential for more purchases in the future. This deal is valued at a whopping $9 billion, according to Lufthansa. As part of the order, Lufthansa will receive 40 737-8 MAX planes from Boeing and 40 Airbus A220-300s, all to be delivered between 2026 and 2032. What's more, the agreement also includes 120 future purchasing options for both Boeing and Airbus.
Airbus to also benefit from deal
This news has had a positive impact on Boeing's shares, causing them to tick higher. But let's not forget about Airbus, who also stands to gain from this lucrative order. Currently, Airbus's stock is up by a third of a percent in France. They will be delivering 40 A220-300 planes to Lufthansa as part of the order. This deal is significant for both aircraft manufacturers because it not only boosts their order backlog but also opens the door for potential future sales with the 120 purchasing options included in the agreement.
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