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FAA says it expects Boeing resume 787 deliveries in days
By: David Shepardson | August 8, 2022
WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) on Monday said that it expects Boeing (NYSE:BA) to resume deliveries of its 787 Dreamliner in the coming days after the regulator found the manufacturer made necessary changes to meet certification standards.
Boeing halted deliveries in May 2021.
American Airlines (NASDAQ:AAL) is likely to receive the first 787 airplane delivered by Boeing since the halt, sources said. American Airlines said on a July earnings call it expects to receive nine 787s this year, including two in early August.
The FAA had earlier approved Boeing's plan for specific inspections to verify the airplane meets requirements and that all work has been completed.
Boeing has presented to the FAA for approval the first of about 120 787s awaiting delivery. The FAA said it "will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery."
Boeing has faced production issues with the 787 for more than two years. In September 2020, the FAA said it was investigating manufacturing flaws in some 787 jetliners.
Boeing suspended deliveries of the 787 after the FAA raised concerns about its proposed inspection method. The FAA had previously issued two airworthiness directives to address production issues for in-service airplanes and identified a new issue in July 2021.
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Somehow it got a 6.40 IMDB rating. It's about a guy (a pilot?) juggling his stewardess GFs. There's nothing, as I recall, about Boeing, the company or its planes.
I do remember seeing that movie, but I'm thinking it must not have been too memorable as I don't remember anything about it!
Has anyone seen the rarely-shown 1965 film, Boeing, Boeing with Tony Curtis and Jerry Lewis?
One review in a stretch called it "just middling, passable nonsense."
https://en.wikipedia.org/wiki/Boeing_Boeing_(1965_film)
neither is Boing-Boing !
"the Europe"? And ahhh, Airbus isn't an airline either.
AirBus is tending to be the Europe's Favorite Airline--- TonyMconey and RYAN AIR ...still flying
Boeing Quiet week in this one. Gap below if weak, downtrend break if strong..
By: Options Mike | August 7, 2022
• $BA Quiet week in this one.
Gap below if weak, downtrend break if strong.. KISS .. keep it..
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Boeing (BA) PT Set at $200.00 by Royal Bank of Canada
By: MarketBeat | August 1, 2022
• Boeing (NYSE:BA - Get Rating) received a $200.00 price target from research analysts at Royal Bank of Canada in a research report issued on Monday, Borsen Zeitung reports. Royal Bank of Canada's target price would suggest a potential upside of 18.34% from the company's previous close...
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early watchers claim it was a dade-cat crawl...followed by a bounce
Who cares. FAA certification 787. BA down almost $6 today. This must be BAD news.
787 approval by FAA finally. Boeing stock is acting like this is not a big deal -- surprising
TSA air travel numbers looking *slightly* better lately.
https://www.tsa.gov/coronavirus/passenger-throughput
The Best Performer in the $DJIA is Boeing Company. $BA
By: Thom Hartle | August 1, 2022
• Today (8:34 CST), the best performer in the $DJIA is Boeing Company. $BA.
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"DJ Boeing Stock Surges To Lead The Dows Gainers After 787 Deliveries Could Resume After Hurdle Cleared With FAA -- MarketWatch"
already closed!
huh!
Boeing (BA) CEO really needs to go, earnings still a mess but backlog growing
By: Options Mike | July 31, 2022
• $BA CEO really needs to go, earnings still a mess but backlog growing (good thing) and 787 should be cleared in 2022. Gap on watch for this week.
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U.S. approves Boeing inspection, rework plan to resume 787 deliveries
By: Investing.com | July 29, 2022
WASHINGTON (Reuters) - The U.S. Federal Aviation Administration (FAA) on Friday approved Boeing (NYSE:BA)'s inspection and modification plan to resume deliveries of 787 Dreamliners, two sources briefed on the matter told Reuters.
The FAA approved Boeing's plan after lengthy discussions, a move that should allow Boeing to resume deliveries in August after it halted them in May 2021, sources said.
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The Boeing Company (BA) Fallen Stock No One Should Touch Right Now
By: Stock News | July 28, 2022
Despite the Federal Reserve’s three interest rate hikes to combat inflation this year, the Consumer Price Index (CPI) hit a multi-decade high of 9.1% last month. After another 75 basis-point rate hike yesterday for the second straight month, the central bank is expected to increase rates further. Therefore, a recession looks unavoidable.
The U.S. economy contracted at a 0.9% annual rate in the second quarter after a 1.6% decline in the first quarter, making many analysts believe that a recession has arrived. Moreover, an unexpected decline in global business activity and a sudden rise in weekly jobless claims are expected to keep the market highly volatile in the upcoming weeks.
Amid this backdrop, low profitability, weak financials, and unfavorable analyst estimates make shares of The Boeing Company (BA), Archer Aviation Inc. (ACHR), Beyond Meat, Inc. (BYND), Carvana Co. (CVNA), and fuboTV Inc. (FUBO) risky investments. These stocks could keep losing in the near term.
The Boeing Company (BA)
BA designs, manufactures, and sells commercial jetliners, military aircraft, satellites, missile defense systems, human space flight, and launch systems and services worldwide. It operates through Commercial Airplanes (BCA); Defense, Space & Security (BDS); Global Services (BGS); and Boeing Capital (BCC) segments. It has a 1.37 beta.
On July 21, 2022, BA debuted the first P-8A Poseidon aircraft for New Zealand in its Royal New Zealand Air Force (RNZAF) livery as their new multi-mission maritime patrol aircraft.
The four Boeing P-8A Poseidon aircrafts purchased by the New Zealand Government will replace the current fleet of six aging P-3K2 Orion aircraft and offer advanced capabilities to maintain situational awareness in neighboring waters on and below the surface of the ocean. This should help BA nurture its relationship with the Government.
For fiscal second quarter ended June 30, 2022, BA’s total revenues decreased 1.9% year-over-year to $16.68 billion. The company’s non-GAAP operating earnings came in at $490 million, representing a 35.1% year-over-year decline.
Its net earnings came in at $160 million for the quarter, down 71.8% from the year-ago period. BA’s non-GAAP loss per share came in at $0.37, versus a $0.40 EPS in the prior-year period. As of June 30, 2022, the company had $10.09 billion in cash and cash equivalents.
Analysts expect a negative EPS estimate for fiscal 2022 ending December 31, 2022. It missed Street EPS estimates in each of the trailing four quarters.
Its trailing-12-month ROTC and ROA have been negative compared to their positive industry averages. The stock has lost 22.5% year-to-date and 1.3% over the past week to close the last trading session at $156.09, down 35.3% from its 52-week high of $241.15.
BA’s POWR Ratings reflect this bleak outlook. The stock has an overall rating of D, which equates to Sell in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an F grade for Growth and a D for Stability, Quality, and Sentiment. Click here to see the additional ratings for BA’s Value and Momentum. BA is ranked #62 of 76 stocks in the C-rated Air/Defense Services industry.
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Boeing (BA) Stock Higher As Cash Flow Forecast Offsets Wider Q2 Loss
By: TheStreet | July 27, 2022
• "We made important progress across key programs in the second quarter and are building momentum in our turnaround," said CEO Dave Calhoun.
Boeing (BA) posted a wider-than-expected second quarter loss Wednesday but repeated its forecast to turn cash-flow positive thanks in part to improving supply chains and a bulging $372 billion aircraft order backlog.
Boeing said its adjusted core loss for the three months ending in June was pegged at 37 cents per share, down from a profit of 40 cents per share over the same period last year and the Street consensus forecast of a 14 cents per share loss.
Group revenues, Boeing said, fell 1.7% from last year to $16.7 billion, a tally that also missed analysts' forecasts of $17.57 billion. Operating cash flow, however, turned positive at around $100 million for the quarter, Boeing said, and the group said it would be cash flow positive in 2022.
Boeing's order backlog now totals around 4,200 commercial aircraft, the company said, with a list value of around $372 billion.
"We made important progress across key programs in the second quarter and are building momentum in our turnaround," said CEO Dave Calhoun. "As we begin to hit key milestones, we were able to generate positive operating cash flow this quarter and remain on track to achieve positive free cash flow for 2022."
"While we are making meaningful progress, we have more work ahead," he added. "We will stay focused on safety, quality and transparency, as we drive stability, improve performance, and continue to invest in our future."
Boeing shares were marked 3.9% in pre-market trading immediately following the earnings release to indicate an opening bell price of $162.00 each.
Boeing also said that it's working with the FAA on the 'final actions' needed to resume 787 deliveries.
Earlier this spring, Boeing unveiled plans to move its corporate headquarters to the suburbs of Washington, D.C. in a move widely seen as an effort to improve its relationship with the Federal Aviation Administration and big-name lawmakers on Capitol Hill.
Boeing's reliance on a good relationship with the FAA, which was critical of its safety and reporting procedures following fatal crashes of the 737 Max in 2018 and 2018 that ultimately lead to the firing of former CEO Dennis Muilenburg, was evident in the group's most-recent earnings report.
The planemaker said it submitted a certification plan to the FAA that it hopes could see it resume 787 Dreamliner deliveries later this year, a move that mitigated the surprisingly wide first quarter loss of around $1.5 billion.
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Boeing results fall short of estimates but manufacturer still expects to be cash flow positive this year
By: CNBC | July 27, 2022
Boeing on Wednesday reported lower revenue and a wider adjusted quarterly loss than analysts expected but the aircraft manufacturer stuck with its forecast to return to free cash flow in 2022.
Weakness in its defense unit dragged down results, but was partly offset by strength in its commercial airplane unit. Aircraft deliveries rose to 121 in the second quarter from 79 a year ago, while commercial aircraft revenue rose 3% to more than $6.2 billion.
The company is fresh from winning high-profile orders at the Farnborough Air Show like those for 100 737 Max 10s from Delta Air Lines. Boeing and rival Airbus’ customers have been benefitting from a rebound in travel after demand for flights slumped during the pandemic.
Here’s how the company performed compared with analysts’ estimates complied by Refinitiv:
• Adjusted loss per share: 37 cents vs an expected loss 14 cents.
• Revenue: $16.68 billion vs. $17.57 billion expected.
CEO Dave Calhoun earlier this month said that the company is producing an average of 31 737 Max jetliners each month. He said the company won’t raise production too quickly because of supply chain and labor constraints. Rival Airbus has expressed similar concerns.
“Even with demand high, we won’t chase production rates or push our system too fast,” Calhoun said in a staff note on Wednesday. “With safety and quality at the forefront, we will prioritize stability and predictability.”
He also reiterated that Boeing is “in the final stages” of preparations to resume deliveries of its 787 Dreamliners, which have been paused for more than a year after manufacturing flaws were detected.
In January, Boeing said the issues would cost it $5.5 billion, including $2 billion in irregular manufacturing costs as it dialed back production to avoid a pileup of inventory. Boeing recorded $283 million of that in the second quarter.
A return of 787 deliveries is key for Boeing because customers pay the bulk of an aircraft’s price when they receive the planes.
The company’s defense unit revenue dropped 10% from a year ago and the company took a $147 million charge on its MQ-25 unmanned refueler because of higher costs.
Boeing executives will discuss results with analysts at 10:30 a.m. Wednesday, when they are likely to face questions about the 737 Max’s return to flying in key aircraft customer China, timing on the 777X and its cash flow forecast for this and next year.
Analysts are also likely to ask Boeing’s leaders to outline when they expect to win U.S. certification of the 737 Max 10, the largest in the Max family.
Boeing shares are down more than 22% so far this year. Shares were up more than 2% in premarket trading after releasing results.
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Earnings Preview: Boeing Co. (NYSE: BA)
By: 24/7 Wall St. | July 25, 2022
• Here’s a look at four companies set to report results before markets open Wednesday morning.
Boeing
Since reaching a 12-month high in mid-August, shares of Boeing Co. (NYSE: BA) are down by 36%. The stock gained about 7% last week after announcing orders for 278 737 Max jets, nine 787s, and two 777-8Fs at the Farnborough Airshow in England. Since the 737 Max was recertified in November, Boeing has received orders for more than 1,000 of the single-aisle planes. Boeing had expected to return production of the Max to 31 per month by early this year, but so far, that total has remained elusive. Dow 30 component Boeing should have something to say about production in its earnings report and on the conference call.
Of 23 analysts covering the stock, 18 have a Buy or Strong Buy rating, and two more have given the shares a Hold rating. At a current price of around $155.50, the implied upside based on a median price target of $204.50 is 34.5%. At the high target of $298.00, the implied upside is about 91.6%.
Consensus estimates call for second-quarter revenue of $17.52 billion, up 25.3% sequentially and up about 3.1% year over year. Analysts are forecasting a quarterly loss per share of $0.11 compared with a loss of $2.75 in the prior quarter and EPS of $0.40 last year. For the full 2022 fiscal year, Boeing is expected to post a loss of $1.12 per share compared with last year’s loss of $9.44. Revenue is expected to increase by 20.1% to $74.8 billion.
Boeing stock trades at a multiple of 28.9 times estimated 2023earnings of $5.39 and 19 times estimated 2024 earnings of $8.21 per share. The stock’s 52-week range is $113.02 to $241.15. Boeing has suspended its dividend, and total shareholder return for the past year was negative 29.6%.
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Ryanair voices concern over Boeing delays and MAX 10 certification
By: Reuters | July 25, 2022
• Ryanair on Monday said that Boeing had warned it of possible delays to 21 737 MAX aircraft due for delivery before the end of the year and said it was also worried about the certification of the new MAX 10 aircraft.
DUBLIN (Reuters) – Ryanair on Monday said that Boeing had warned it of possible delays to 21 737 MAX aircraft due for delivery before the end of the year and said it was also worried about the certification of the new MAX 10 aircraft.
Boeing remains a “major area of concern” for Ryanair, one of the U.S. aerospace giant’s leading customers, Group Chief Executive Michael O’Leary told investors on a call following the release of quarterly results.
Boeing did not immediately respond to an emailed request for comment.
O’Leary said he was confident that Boeing would deliver all 50 737 MAX aircraft due by next summer but he was concerned about a possible repeat of delays this year that forced it to take deliveries during its busy summer season.
“In the last two weeks, we’re getting letters out of Boeing telling us there might be problems with 21 aircraft this side of Christmas,” O’Leary told investors on a conference call.
A delay would be “inexplicable and unacceptable,” he added.
O’Leary said that he had been assured that Ryanair deliveries would take priority this winter.
“Management in Seattle… need to get their finger out,” O’Leary said, repeating a call for a change in management at Boeing’s Seattle operations.
O’Leary said he was still interested in a large order for the MAX 10 – the largest member of its best-selling single-aisle airplane family – but that Boeing had not offered attractive enough pricing yet.
“We would hope eventually they will get there,” he said.
Ryanair last year walked away from negotiations with Boeing for 200 of the MAX 10. The MAX 10 programme, which has not yet been certified, received a boost at Britain’s Farnborough Airshow last week with Delta Air Lines ordering 100 and Qatar Airways 25.
O’Leary said he was worried about delays to the certification and the possibility that the cockpit would have to be redesigned.
Boeing faces a December deadline to win approval for the 737 MAX 10, otherwise it must meet new cockpit alerting requirements under a 2020 law, unless waived by Congress.
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"Boeing defense workers set to strike after rejecting labor deal"
"Nearly 2,500 members of a union that represents three Boeing (NYSE:BA) defense plants in the St. Louis area voted Sunday to reject the company's contract offer and plan to strike starting August 1.
Workers at the three plants in Missouri and Mascoutah, Illinois, build military aircraft including the F-15, F-18, T-7A trainer and MQ-25 unmanned refueler.
The International Association of Machinists and Aerospace Workers District 837 union said the company previously took away its members' pensions and is not fairly compensating their 401(k) plans.
The strike vote may foreshadow difficult negotiations for Boeing (BA) in the next round of contract talks for the union's much larger contingent at the company's Seattle commercial aircraft operations, which has ~30K workers in a separate bargaining unit.
Boeing (BA), which will release its Q2 earnings on July 27, reported a $1.2B loss in Q1."
https://seekingalpha.com/news/3859845-boeing-defense-workers-set-to-strike-after-rejecting-labor-deal?
The Boeing Company (BA) Receives Average Recommendation of "Moderate Buy" from Brokerages
By: MarketBeat | July 23, 2022
• Shares of The Boeing Company (NYSE:BA - Get Rating) have earned an average rating of "Moderate Buy" from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $219.50...
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Boeing (BA) Nice move to the Gap, earnings this week..
By: Options Mike | July 24, 2022
• $BA Nice move to the Gap, earnings this week.. will wait to see what they say now..
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Revived Qatar order caps Boeing air show fightback
By: Reuters | July 21, 2022
Boeing secured a revived order for 25 of its 737 MAX 10 airliners from Qatar Airways on Thursday, as the return of Britain's Farnborough Airshow this week offered hope for the largest version of the planemaker’s troubled best-seller.
Two fatal 737 MAX crashes, an almost two-year worldwide grounding of the plane, and then the global pandemic have left the aviation industry reeling, with rebounding demand now stretching airlines, airports and parts supply.
Qatar Airways Chief Executive Akbar Al Baker signed the MAX deal in front of reporters at a ceremony delayed by nail-biting last-minute negotiations.
The order, worth $3.4 billion at list prices, capped a largely one-sided show dominated by Boeing (NYSE:BA)'s efforts to shore up the MAX 10, whose future lies partly in the hands of regulators and Congress.
Even so, analysts said the world's joint-largest aerospace event, which alternates with the biennnial Paris Airshow, was muted this year, with only patchy orders compared with previous events and only the freak hot weather approaching past records.
Industrial worries stood out more than orders.
"Farnborough was a bit flat, but that is hardly surprising in a context of inflation and recession," said aviation adviser Bertrand Grabowski.
"Most airlines and lessors are being cautious. For narrowbody aircraft Airbus is sold out until 2028 and Boeing until 2026, by which time an aircraft could be 30% more expensive or more after adjusting for escalation clauses," he added, referring to inflation adjustments in aircraft purchase contracts.
A preliminary version of Qatar's MAX order was signed in Washington in January, but later lapsed, according to the airline. Reuters had reported on Wednesday that the Gulf carrier may revive the MAX 10 deal at this week's air show.
Boeing faces a December deadline to get the largest version of the MAX certified, without which it would need to comply with a requirement for an electronic warning system that is different from other variants, or else seek a Congressional waiver.
Farnborough saw Boeing dominate the stage with orders and re-announcements, suggesting renegotiation of earlier deals following the grounding delays, as it recovers from a slew of regulatory, industrial and financial problems.
After winning a key Delta Air Lines (NYSE:DAL) order for 100 MAX 10 at the outset of the show, Boeing Commercial Airplanes Chief Executive Stan Deal said the MAX had been "rebooted".
BOEING 'JOURNEY'
Sales chief Ihssane Mounir, said by one airline executive to be on a "war footing" to rekindle momentum, declined to be drawn on whether Boeing's three-year confidence crisis was over.
"It's a journey; I don't think any of us will say there is a point in time where we turned the corner," he said.
Boeing reported some 167 firm orders, of which 12 had already been on its order book with only the name undisclosed.
Analysts said Airbus, which for years took the spotlight as it fought for an equal share of the jet market, was under less pressure as it is sold out for the next 5-6 years.
It secured an order for 12 A220s from Delta and signed a previously announced deal for 56 jets from British low-cost carrier easyJet (LON:EZJ) after airline shareholders approved it.
However, a planned order for some 50 A220 planes from Jet Airways faced last-minute obstacles and a decision by Malaysia Airlines to upgrade a fleet of A330 jets to the fuel-saving A330neo may need final approval, industry sources said.
Airbus sales chief Christian Scherer played down the importance of air shows.
Boeing, meanwhile, said it had received a commitment from Luxembourg operator Cargolux to select the freighter version of its large 777X, with details to be settled in coming weeks.
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TSA air travel numbers still significantly below 2019 pre-pandemic levels, bad for Boeing and most aviation.
https://www.tsa.gov/coronavirus/passenger-throughput
How Boeing (BA) Stock Can Rally 18% or More From Current Levels
By: TheStreet | July 19, 2022
• Boeing stock has been rallying nicely over the past month -- and the rally may not be done just yet.
Boeing (BA) stock has not had an easy year. To be fair, not many stocks have. But some investors may be surprised by the underperformance of the airline and aerospace stocks.
Travel trends are booming despite high inflation and higher travel costs. We’re seeing packed airports and airlines operating at their highest level in years.
Nonetheless, stocks like Delta Air Lines (DAL), United Airlines (UAL), Boeing and others are lagging the overall market.
For its part, Boeing stock is down 23% in 2022. But only a month ago the shares were down more than 43% on the year. Helping save the stock’s performance has been a rally in excess of 40% from the June low.
Boeing has the wind at its back as orders finally begin to accelerate. Most recently, Delta Air logged an order for 130 737 Max jets.
Just last week, some investors were wondering whether Boeing stock was set to continue rallying or whether the stock would be grounded. So far, we have our answer, but can it maintain its momentum?
Trading Boeing Stock
Daily chart of Boeing stock.
Chart courtesy of TrendSpider.com
For a while, this stock had only bearish momentum. Every rally was being sold and tests of its moving averages drew in sellers rather than buyers.
The stock is technically trading within yesterday’s range — giving traders an “inside day” — but that’s not what jumps out to me.
Instead, I’m watching the $146 level on the downside and $156 level on the upside. This $10 range could go a long way toward telling traders which way Boeing stock will go.
On the downside, $146 is the start of a notable support zone, between $141 and $146. But perhaps more important, it’s where we find the 10-day and 10-week moving averages.
These measures should give Boeing some solid footing on the pullback. If it doesn’t and Boeing trades below $140, it puts the 50-day moving average in play and saps most, if not all, of its current bullish momentum.
On the upside, $156 is not just on watch today as it comes into play near Monday’s high, but it’s also where we find the declining 21-week moving average.
Clearing this hurdle opens the door to the $166.85 level, where there’s a big gap waiting to be filled. That also comes in close to the Q1 low (at $167.58).
Above that opens the door to the 38.2% retracement, followed by the 200-day moving average. The latter has been stout resistance since Q4 2021.
If Boeing were to rally to this moving average, it puts a 15% to 18% gain within reach and potentially more should it continue higher.
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AerCap says it will buy five additional 787 Dreamliners
By: David Shepardson | July 19, 2022
FARNBOROUGH, England (Reuters) -Aircraft lessor AerCap Holdings on Tuesday agreed to buy five additional Boeing (NYSE:BA) 787-9 Dreamliner jets as the U.S. planemaker nears a resumption of deliveries.
"We believe in this aircraft," said AerCap Chief Commercial Officer Peter Anderson at a press event at the Farnborough Airshow. "We see an opportunity to build on a bet that we placed on the 787 a while ago... We think the 787 is an aircraft of the future."
Separately, aircraft lessor Aviation Capital Group LLC said on Tuesday it had ordered 12 additional 737 MAX 8 jets. ACG Executive Chair Mahoko Hara said the move "will help position ACG's order book for a recovery in air traffic coming out of the pandemic."
Boeing Commercial Airplanes Chief Executive Stan Deal said on Sunday the U.S. planemaker was "very close" to restarting 787 deliveries, which have been halted since May 2021 as Boeing works through inspections and production issues.
Boeing only briefly resumed 787 deliveries in March 2021 after halting them in late 2020.
The Federal Aviation Administration (FAA) said on Sunday the agency "will sign off on each delivery only after Boeing demonstrates the aircraft meets FAA safety standards".
Anderson said AerCap had not been holding off on ordering more planes until Boeing neared a resumption of deliveries, but added that "it certainly helped".
He said he sees global demand for long-haul fuel-efficient travel. "We see demand for the aircraft, we see that market coming back strongly," he said.
AerCap, the world's largest 787 customer, now has 125 787 Dreamliners in its portfolio or on order.
Deal said on Tuesday Boeing is studying how to add more capacity to its production system to potentially build 737 MAXs, but wants to make sure the supply chain can handle any increase.
He said the MAX, which was grounded for 20 months after two fatal crashes that killed 346 people, has been "rebooted", noting more than 1,000 orders since the grounding was lifted in late 2020, including Delta Air Lines (NYSE:DAL)' order of 100 MAX 10 models on Monday.
"I think you can check the reboot box and now we're just into the normal Boeing versus Airbus, continuing to compete hard for each customer's business," Deal said.
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Aviation recovery heats up with Boeing order, UK-Japan talk
By: Reuters | July 18, 2022
• Aviation bosses gathered for the return of the Farnborough Airshow on Monday, aiming for a display of confidence after the devastation of COVID-19, even though the only records likely to be broken at the event are.
FARNBOROUGH, England (Reuters) -A multibillion-dollar Boeing plane order and signs of UK-Japanese cooperation on fighter jets gave a lift to the aviation industry on Monday as the Farnborough Airshow returned in a heatwave tipped to break UK records.
A national emergency has been declared in Britain for Monday and Tuesday, with temperatures set to rise above 40 degrees Celsius (104 Fahrenheit) for the first time.
Despite warnings people should not travel unless absolutely necessary, delegates battled crowded trains and shuttle buses to reach the show in Hampshire, southern England.
Travel problems were exacerbated by climate protesters holding a mock funeral for the Earth outside the show.
The industry has been reeling from its own travel disruptions and the head of Emirates airline, which has clashed with London’s Heathrow over enforced capacity cuts, said a badly disrupted air travel industry would return to equilibrium in 2023 and must “tough it out” until then.
The air show, which alternates with Paris, is the first at Farnborough since 2019, and rising defence spending will be in focus amid the war in Ukraine.
Three sources told Reuters last week that Britain and Japan were close to agreement to merge their next-generation Tempest and F-X fighter jet programmes to help save costs.
“The future combat aircraft system is not just a plane. It is a whole platform for technological change, and industrial spin offs of all kinds,” British Prime Minister Boris Johnson said in opening remarks at the show.
On the civilian side, Boeing, under pressure to make up ground lost to rival Airbus, struck an upbeat tone on aircraft demand despite a faltering global economy.
“I think we’ll see the glory of the old days – and then some,” CEO Dave Calhoun told CNBC, adding he was keeping a close eye on the economy. “For right now I am enjoying the robust demand that we see.”
Boeing is seeking to shore up its troubled 737 MAX 10 and 777X jetliners with orders worth over $15 billion at list prices from Delta Air Lines and Lufthansa, sources familiar with the matter told Reuters on Sunday..
Delta confirmed on Monday it would buy 100 737 MAX 10, worth $13.5 billion at list prices, and had an option to buy another 30. Boeing’s shares rose 4% in pre-market trade.
India’s Jet Airways is near a deal to buy 50 A220 jets from Airbus, two people close to the matter said. The airline’s board was due to meet on Monday to finalise the deal.
Frustration
Demand for jets peaked in 2016 but remained buoyant until the pandemic crippled air transport. Now, travel is rebounding, passengers face long lines and some jets are back in demand.
But the big-ticket orders that dominated past events are rarer as airlines repair balance sheets weakened by COVID-19 travel restrictions.
Aerospace firms came under pressure from customers at the start of the show to stabilise fractured supply chains and feed resurgent jet demand, even as airlines and airports are struggling to smooth their own operations after the pandemic.
Airbus Chief Executive Guillaume Faury told Flightglobal in an interview published on Monday that engine delays holding back plane deliveries would peak at mid-year.
But the head of the body representing global airlines, IATA Director General Willie Walsh, said manufacturers had wasted chances to shore up assembly lines.
“Airlines are frustrated by the delays around delivery of aircraft; they’re frustrated around issues like access to spare parts,” Walsh told Reuters.
“I think (manufacturers) should have taken better advantage of the lull in demand over the past two years to have been better prepared for this recovery.”
Industries worldwide are facing gaps in supply chains and labour shortages. Even the Farnborough Airshow itself has had trouble recruiting enough hospitality staff, insiders said.
Aviation is also under pressure to build greener planes and stop adding to what Johnson called the “carbon tea cosy” heating the planet. “We know that we must fix it. We know that time is running out,” he said.
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Best Performer in the $DJIA is Boeing Company. $BA
By: Thom Hartle | July 18, 2022
• Today (8:33 CST), the best performer in the $DJIA is Boeing Company. $BA .
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Boeing (BA) Over 150 that gap the next target up near 160
By: Options Mike | July 17, 2022
• $BA Name has been perky, report of possible big order coming from $DAL on Monday, on watch. Over 150 that gap the next target up near 160.
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Delta to announce deal for 100 Boeing MAX 10 planes - sources
By: Reuters | July 17, 2022
Delta Air Lines (NYSE:DAL) will announce a deal for 100 Boeing (NYSE:BA) MAX 10 jets worth around $13.5 billion at list prices at the Farnborough air show on Monday, sources familiar with the matter told Reuters on Sunday.
Reuters reported in March that Delta was edging towards an order for 100 MAX 10 planes, and also reported last week that Airbus was in talks for Delta to expand an existing order of A220 planes.
The sources also said Lufthansa was set to firm up a deal for around 10 large Boeing freighters.
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Boeing 'disappointed' union recommending rejection of contract offer
By: Reuters | July 16, 2022
Boeing on Saturday said it is "disappointed" that the union representing nearly 2,500 employees at the U.S. planemaker's facilities in the St. Louis area has recommended rejection of management's contract offer.
The International Association of Machinists and Aerospace Workers (IAM), the union representing the workers, said in an earlier statement that it recommended rejecting the company's "last, best, and final" contract offer.
The contract is set to expire on Monday, July 25. After a seven-day waiting period, the workers could begin picketing on Aug. 1 if they vote to reject the contract offer and go on strike, the union said.
Boeing said it remains "hopeful that our employees will see the value in this offer and vote yes" to accept its offer, which the company said provides "highly competitive" wage increases and cash and stock immediately and also includes one of the "most lucrative" 401(k) retirement plans in the country.
Tom Boelling, an IAM official, said Boeing had failed to meet members' needs on a number of issues. "We will fight for a contract the membership deserves," he said in the union statement.
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Boeing cuts 20-year industrywide outlook for planes
By: David Shepardson | July 16, 2022
LONDON (Reuters) - U.S. airplane maker Boeing Co trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market.
Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for about 75% of planes.
Boeing's new market outlook, released on Sunday ahead of the Farnborough Airshow, is down from its previous rolling 20-year-forecast of 43,610 deliveries.
The new estimate excludes the Russian market and its projection of 1,540 airplanes, because of the war in Ukraine and uncertainty about when manufacturers could again sell planes to Russian carriers.
Boeing slightly boosted its forecast for demand over the next 10 years to 19,575 airplane deliveries -- a higher projection even excluding the Russian market.
"That's a function of a depressed environment in 2021 falling off and a new trend year in 2031 being added," Darren Hulst, Boeing vice president for commercial marketing, told reporters in a briefing ahead of the Sunday release. "It comes very close to our 2019" outlook if Russia was included.
Boeing also dropped its industrywide passenger traffic forecast growth rate slightly to 3.8% from 4%, but boosted its cargo growth forecast to 4.1% from 4% last year. It cut its fleet growth forecast to 2.8% from 3.1%. Its forecast for widebody deliveries over 20 years fell from 7,670 to 7,230.
Boeing still projects the global airline fleet by 2041 will nearly double as it still sees a worldwide aviation demand COVID-19 recovery by early 2024.
Over the next 20 years Boeing said "long-term fundamentals remain intact."
"Our view of medium-term recovery -- when the industry gets back to 2019 levels of global airline traffic -- is largely unchanged" since 2020, Hulst said. "Overall, we still see late 2023, early 2024 as the time where the industry recovers to full or at least the level of pre-pandemic traffic."
Boeing sees strong near-term demand for aircraft despite recession risks.
"The global industry is still on a recovery trajectory back to where the normal relationship of GDP and traffic would be," Hulst said. "Any small blip from an economy standpoint would be probably overwhelmed by the demand that exists as a result of those normal economic relationships."
Boeing also projects the freighter fleet will grow 80% by 2041. Air cargo is performing at "historic levels," Hulst said, saying it is in part "a function of the increasing strategic value of air cargo relative to supply chains that are challenged and shipping that is challenged."
Boeing sees e-commerce networks as helping to drive a "strategic shift to air cargo even into the medium- and long-term. ... This isn't just a blip in terms of shipping versus air."
Hulst said the number of routes with more than one airline operating has more than doubled over the last two decades -- representing 70% of all capacity. It demonstrates "the continuous innovation that airlines need to have to continue to compete at lower costs to attract more and more traffic."
Air cargo still only accounts for 1% of global trade. "A small shift in terms of mode of transportation, of key elements of trade, makes a big impact in terms of demand for air cargo," Hulst said.
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$BA Boeing weekly inverted cup & handle forming?
By: TrendSpider | July 16, 2022
• $BA Boeing weekly inverted cup & handle forming?
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Boeing (BA) Price Target Increased to $170.00 by Analysts at Bank of America
By: MarketBeat | July 15, 2022
• Boeing (NYSE:BA - Get Rating) had its price objective hoisted by equities researchers at Bank of America from $150.00 to $170.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage currently has a "neutral" rating on the aircraft producer's stock. Bank of America's price target points to a potential upside of 15.57% from the stock's current price...
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Boeing Price Target Raised at BofA on Improving Sentiment
By: Investing.com | July 15, 2022
Boeing's (NYSE:BA) price target at BofA was boosted to $170 from $150 by analyst Ronald Epstein on Friday.
Epstein, who has a Neutral rating on the stock, told investors in a research note that the reason for the increase was to account for defense re-rating on improving US and Nato defense budgets following the Russia-Ukraine conflict and improving market sentiment heading into next week's Farnborough airshow.
"Delta is considering orders for MAX-9/10s that could be announced next week. Additionally, news on the 787 deliveries restart are expected soon," said the analyst. We are increasing our relative valuation from 0.5x (one standard deviation below historical average) to 0.7x (in line with historical average) relative to the S&P 500."
However, he added that while they expect Boeing to participate in the commercial aero recovery and 787 orders to restart in the second half of the year, "some significant company-specific challenges lie ahead."
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Royal Bank of Canada Trims Boeing (BA) Target Price to $200.00
By: MarketBeat | July 14, 2022
• Boeing (NYSE:BA - Get Rating) had its price target lowered by analysts at Royal Bank of Canada to $200.00 in a report issued on Tuesday, The Fly reports. Royal Bank of Canada's price target suggests a potential upside of 37.20% from the company's current price...
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Much better conviction!
Boeing deliveries reach highest monthly level since March 2019
By: Reuters | July 12, 2022
• Boeing Co delivered 51 airplanes in June to bring its first-half tally to 216 jets, up 38% from the same period last year, company data showed on Tuesday.
Boeing Co delivered 51 airplanes in June to bring its first-half tally to 216 jets, up 38% from the same period last year, company data showed on Tuesday.
June’s deliveries exceeded the 50 threshold for the first time since March 2019 and included 43 Boeing 737 MAX, which is recovering from a nearly two-year safety crisis.
Industry sources said monthly MAX production touched a target of 31 airplanes but had yet to be “stabilised” at that level as aerospace faces worldwide snags in the supply chain.
June deliveries included six wide-body commercial freighters but, for the 12th consecutive month, no 787 Dreamliners.
Deliveries of the long-haul jet have been halted for a year as Boeing and regulators address production problems.
In new business, Boeing won 50 airplane orders in June, including 49 MAX, of which 48 were sold to customers whose names were not immediately disclosed. The one public purchaser was American Airlines.
Boeing took cancellations for 35 planes in June, mainly related to airline restructurings, including 29 jets originally earmarked for Norwegian Air.
But it also benefited in June from dozens of jets being taken out of limbo and placed back on a list of orders expected to be fulfilled as Boeing reversed some accounting adjustments.
In total during the first half, Boeing booked 286 gross orders and took 100 cancellations, leaving a net total of 186 orders after cancellations and conversions.
Europe’s Airbus on Friday posted 259 net orders after cancellations in the first half, up sharply from a year earlier. Deliveries were flat at 297 airplanes.
After retrieving a six-month total of 19 jets from an accounting category designed to filter out orders unlikely to be fulfilled, Boeing ended the first half with an adjusted total of 205 net orders as it took a more optimistic view on some deals.
Boeing’s undelivered backlog after these regular accounting adjustments stood at 4,239 units at end-June.
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Airbus Keeps Trouncing Boeing on Jet Orders
By: Motley Fool | July 10, 2022
• Airlines continue to show a clear preference for A220s and A320neos.
Over the past several years, Boeing (BA -0.64%) has fallen far behind Airbus (EADSY 0.71%) in virtually every respect. The U.S. aerospace giant is building far fewer commercial jets than its top rival. As a result, it continues to lose money and burn cash, even as Airbus has returned to profitability.
Making matters worse, Airbus is extending its already-sizable lead on aircraft orders. That will keep Boeing at a disadvantage for the foreseeable future.
Airbus finalizes a big order in June
Through the first five months of 2022, Airbus recorded 364 gross aircraft orders and 191 net orders. As usual, the ultra-popular A320neo aircraft family accounted for the bulk of its orders. Meanwhile, the backlog for Airbus' A330neo wide-body family took a big hit as former top customer AirAsia X canceled 63 of its 78 orders as part of its bankruptcy restructuring.
Over the same period, Boeing booked 236 gross orders and 107 net orders. The troubled 737 MAX family drove the bulk of its orders, but Boeing also got a substantial contribution from its current and next-generation 777 freighter models.
Airbus likely widened its lead last month. The company reported 78 new firm orders, offset by 10 cancellations. Most significantly, Qantas firmed up previously announced plans to acquire 40 narrow-body jets to upgrade its domestic fleet and 12 A350-1000s to launch nonstop service from Sydney (and perhaps Melbourne and Brisbane) to far-away cities like London and New York.
Solid order activity in June gave Airbus 259 net orders year to date. That's keeping its order backlog at more than 7,000 aircraft, compared to 4,192 for Boeing.
Can Boeing catch up?
In May, Boeing announced an order for 50 737 MAX jets from International Airlines Group (IAG), which owns several major European carriers including British Airways. That deal will be added to Boeing's backlog after receiving IAG shareholder approval.
Many analysts are optimistic that Boeing will reveal a slew of additional orders at this month's Farnborough Airshow. That could include an order for 100 737 MAX 10s from Delta Air Lines.
However, Airbus is surely lining up orders to announce at Farnborough, too. Additionally, Boeing CEO Dave Calhoun recently warned that the company may scrap the 737 MAX 10 if Congress doesn't push back a year-end deadline to certify the model in its current design. While Calhoun may be posturing to put pressure on U.S. lawmakers, the resulting uncertainty could also make customers wary of ordering the 737 MAX 10.
Finally, Airbus has already stolen another march on Boeing. On July 1, it announced deals to sell 292 jets to several Chinese airlines. As it firms up those orders, Airbus' lead will grow further.
What it means in the long run
Due to supply chain snafus and a continuing overhang of undelivered jets built in 2019, Boeing hasn't been able to maintain 737 production at its 2022 target rate of 31 per month.
Many analysts are optimistic that Boeing will reveal a slew of additional orders at this month's Farnborough Airshow. That could include an order for 100 737 MAX 10s from Delta Air Lines.
However, Airbus is surely lining up orders to announce at Farnborough, too. Additionally, Boeing CEO Dave Calhoun recently warned that the company may scrap the 737 MAX 10 if Congress doesn't push back a year-end deadline to certify the model in its current design. While Calhoun may be posturing to put pressure on U.S. lawmakers, the resulting uncertainty could also make customers wary of ordering the 737 MAX 10.
Finally, Airbus has already stolen another march on Boeing. On July 1, it announced deals to sell 292 jets to several Chinese airlines. As it firms up those orders, Airbus' lead will grow further.
What it means in the long run
Due to supply chain snafus and a continuing overhang of undelivered jets built in 2019, Boeing hasn't been able to maintain 737 production at its 2022 target rate of 31 per month.
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$BA Stuck, needs volume over 140 still
By: Options Mike | July 9, 2022
• $BA Stuck, needs volume over 140 still.
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Boeing (BA) Rating Reiterated by Robert W. Baird
By: MarketBeat | July 7, 2022
• Boeing (NYSE:BA - Get Rating)'s stock had its "outperform" rating reaffirmed by analysts at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $245.00 price target on the aircraft producer's stock. Robert W. Baird's target price indicates a potential upside of 78.31% from the company's current price...
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Looks like it may finally move through the 50DMA. It's not exactly with great conviction, but you can't start an uptrend without it.
Qatar Airways’ Boeing 737 deal has lapsed, UK court told
By: Reuters | July 7, 2022
• Qatar Airways has indicated that a provisional agreement to buy up to 50 Boeing 737 MAX jets has lapsed, Boeing’s rival Airbus said in a court document released on Thursday.
LONDON (Reuters) – Qatar Airways has indicated that a provisional agreement to buy up to 50 Boeing 737 MAX jets has lapsed, Boeing’s rival Airbus said in a court document released on Thursday.
The deal, signed in Washington in January, is part of a series of inter-locking agreements caught up in a London court dispute between Airbus and the Gulf carrier over a larger jet.
Airbus requested a copy of the Boeing 737 MAX agreement after the airline brought it up as part of its bid for compensation for damage to the A350, now worth $1.4 billion. But Qatar Airways rejected the request on the grounds that the Boeing deal had now “expired”, Airbus said in a UK court filing.
Qatar Airways had no immediate comment. Boeing declined to comment on discussions with airline customers.
Industry sources say provisional contracts or Memoranda of Understanding of the type signed in January are typically valid for a finite period, but can also be renewed or firmed up depending on the intentions of the planemaker and buyer.
Industry publication AirInsight last month quoted Qatar Airways Chief Executive Akbar Al Baker as saying it intended to confirm the order for 25 Boeing 737 MAX 10 plus 25 options.
Qatar has refused to take delivery of more Airbus A350s in a dispute over damage beneath their painted skin, prompting Airbus to withdraw a contract to provide it with smaller A321neos.
Qatar had meanwhile provisionally ordered the Boeing 737 MAX which competes with the A321neo, sparking the row over whether the Boeing contract could be dragged into the UK court battle.
A British judge was hearing arguments over disclosure of documents on Thursday ahead of a full trial due in mid-2023.
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Dear God, not an "ugly reversal candle!" With a doji or without one?
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