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Boeing sees positive week as it tries to emerge from difficult era
The Qatar deal, which includes Boeing's 787 and 777X jets, is the biggest order for 787s and wide body jets in Boeing's history, the company confirmed
AP Washington
Boeing has secured a pair of major orders in the Middle East during a visit to the region by President Donald Trump.
The American aerospace manufacturer confirmed a $96 billion order from Qatar, one day after announcing an order from a company in Saudi Arabia for 20 737-8 jets and options for 10 additional aircraft.
The Qatar deal, which includes Boeing's 787 and 777X jets, is the biggest order for 787s and wide body jets in Boeing's history, the company confirmed.
That's pretty good, Trump said in announcing the order. Get those planes out there.
It has been a particularly good week for Boeing. According to several media reports, China lifted a ban on its airlines taking deliveries of Boeing planes earlier this week as part of Monday's trade truce with the US.
Boeing had already been in the news for its planes in the Middle East, but for different reasons.
Donald Trump said he would accept a luxury Boeing 747-8 jumbo jet as a gift from the ruling family of Qatar, setting off intense criticism from Democrats, ethicists, and even some unease among Republicans.
There are concerns from security and ethics experts that the plane could be less secure, costly to retrofit and a violation of the US Constitution's prohibition on foreign gifts.
Trump offered no national security imperative for a swift upgrade rather than waiting for Boeing to finish new Air Force One jets that have been in the works for years.
Boeing has lost more than $35 billion since 2019 following the crashes of two then-new Max jets that killed 346 people.
Early this year, a panel blew off a 737 Max shortly after takeoff from Portland, Oregon and last year, a strike by union machinists halted production at Boeing plants and hampered the company's delivery capability.
Shares of Boeing, which has been mired in legal and regulatory problems since the crashes six years ago, bounced to their highest level in more than a year Wednesday. It was the fifth straight day of gains for the Arlington, Virginia, company.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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