Latest news with #777-9s
Axios
15-05-2025
- Business
- Axios
Boeing scores biggest ever order as Trump cozies up to Qatar
Count Boeing as a big winner of the Trump administration's trade policy —despite a sometimes frosty relationship with the president. Why it matters: It's a decisive turn for a company slammed by business and regulatory disasters caused by quality troubles, legal problems, labor issues and — most recently — trade walls. Zoom in: In just the last week, the company has picked up big sales deals in the U.K. and the Middle East and avoided a potentially crushing Chinese ban on plane deliveries. Boeing scored the biggest aircraft sale in its history in a deal announced yesterday by President Trump. Qatar Airways is buying up to 210 Boeing 787 Dreamliner and 777X aircraft, all made in the U.S. with GE Aerospace engines, the White House announced. Boeing confirmed the order, saying it includes 130 737 Dreamliners, 30 777-9s and options for 50 additional aircraft. The intrigue: The president has repeatedly torched Boeing since retaking the White House over its long-delayed program to build two new Air Force One jets — a contract Trump originally signed early in his first term. The company now plans to deliver the two new jets in 2027, before Trump leaves office. State of play: The announcement comes after China reportedly ended a ban on its airlines acquiring Boeing jets after striking a trade deal with the Trump administration, Bloomberg reported Tuesday. The country had effectively halted imports of American jets and aircraft parts in retaliation for Trump's tariffs. Separately, the Saudi Public Investment Fund's AviLease has ordered up to 30 new single-aisle Boeing 737-8 jets, Boeing announced. Boeing last week reportedly nailed a deal to sell 30 of its 787 Dreamliners to British Airways parent IAG. Reality check: There are really only two manufacturers of huge jets — and Qatar Airways has a frosty relationship with the other one, Airbus.
The Star
14-05-2025
- Business
- The Star
Boeing, Qatar Airways announce order for up to 210 widebody airplanes
SAN FRANCISCO, May 14 (Xinhua) -- Qatar Airways and Boeing on Wednesday announced the carrier will purchase up to 210 widebody jets, which sets new records as the largest widebody order for Boeing. The order includes 130 787 Dreamliners, 30 777-9s, and options for an additional 50 787 and 777X airplanes. "We are happy to announce our agreement with Boeing and our partnership in the largest aircraft order in our history," said Qatar Airways Group Chief Executive Officer Badr Mohammed Al-Meer. "We are deeply honored that Qatar Airways has placed this record-breaking order with Boeing, one that solidifies their future fleet with our market-leading widebody airplane family at its center," said Stephanie Pope, president and CEO of Boeing Commercial Airplanes.
Ya Libnan
14-05-2025
- Business
- Ya Libnan
Boeing inks record-breaking deal for Qatar Airways to buy up to 210 planes
KEY POINTS U.S. President Donald Trump, Qatar's Emir Tamim bin Hamad Al Thani and Boeing CEO Kelly Ortberg attend a signing ceremony in Doha, Qatar, on May 14, 2025. Boeing and Qatar Airways on Wednesday announced a deal for the Middle Eastern airline to buy up to 210 jets, notching the U.S. planemaker's largest-ever order of widebody aircraft. The order — the biggest in Qatar Airways' history — includes 130 of Boeing's 787 Dreamliners and 30 of its much-delayed 777-9s, with options for up to 50 more planes, the companies said in a press release. Qatar Airways also signed an agreement with GE Aerospace for more than 400 engines to power the Boeing planes, those companies said in another joint release. The purchase of widebody aircraft engines is the largest in GE Aerospace's history, according to the release. Boeing and Qatar Airways struck the agreement during President Donald Trump 's state visit with the emir of Qatar, part of the president's four-day tour of the Middle East. Boeing CEO Kelly Ortberg appeared alongside Trump at the Amiri Diwan in Doha for the signing ceremony. 'This is a critical next step for Qatar Airways on our path as we invest in the cleanest, youngest and most efficient fleet in global aviation,' Qatar Airways CEO Badr Mohammed Al-Meer said in a statement. 'This is so we can meet the strong demand in the airline as we seamlessly connect passengers to the world better than anyone.' Boeing Commercial Airplanes CEO Stephanie Pope said the 'record-breaking order' with Qatar Airways 'solidifies their future fleet with our market-leading widebody airplane family at its center.' The 426-seat, twin-engine 777-9 is part of Boeing's 777X series, which has yet to produce any deliveries and has still not been certified by the Federal Aviation Administration. The White House earlier Wednesday valued the plane deal at $96 billion, and said it will support 154,000 U.S. jobs annually and more than one million domestic jobs in total. Boeing and Qatar Airways, however, said the deal will result in roughly 400,000 jobs in the U.S. Boeing's website says it currently employs around 170,000 people globally. 'It's the largest order of jets in the history of Boeing,' Trump said after Ortberg signed the agreement at the Amiri Diwan. The deal could be a boon for Boeing, which has not posted a profit since 2018. The plane maker has been beset by major safety concerns, manufacturing defects, cost overruns and a nearly two-month-long machinist strike last year. Its business dealings have also been disrupted by Trump's trade war. China stopped accepting deliveries of Boeing planes to its airlines in response to U.S. tariffs, Ortberg said last month. But the company has recently narrowed its losses as it addresses a backlog worth more than $500 billion, Ortberg said in Boeing's first-quarter earnings call. 'This is great news for South Carolina and Boeing,' said Sen. Lindsey Graham, R-S.C., calling the deal 'a gamechanger.' Graham's office said the new planes will be assembled at Boeing's Charleston facility. The deal announced Wednesday would nearly double Qatar Airways' fleet of 233 aircraft, according to its website. It could also draw more scrutiny toward Trump's acceptance, and defense, of Qatar's offer to gift the U.S. a luxury 747 jet that will act as the new Air Force One. Democrats have blasted the move as corrupt and unconstitutional, and some of Trump's Republican allies in government and media have also expressed unease. CNBC/ Reuters
West Australian
14-05-2025
- Business
- West Australian
Donald Trump, Boeing, Qatar Airways strike $145 billion jet deal in Qatar during Middle East tour
Boeing and Qatar Airways on Wednesday announced a deal for the Middle Eastern airline to buy up to 210 jets, notching the US plane maker's largest-ever order of wide-body aircraft. The 'historic' order — the biggest in Qatar Airways' history — includes 130 of Boeing's 787 Dreamliners and 30 of its much-delayed 777-9s, with options for up to 50 more planes, the companies said in press release. Qatar Airways also signed an agreement with GE Aerospace for more than 400 engines to power the Boeing planes, those companies said in another joint release. The purchase of wide-body aircraft engines is the largest in GE Aerospace's history, according to the release. Boeing and Qatar Airways struck the agreement during US President Donald Trump's state visit with the emir of Qatar, part of the president's four-day tour of the Middle East. Boeing CEO Kelly Ortberg appeared alongside Mr Trump at the Amiri Diwan in Doha for the signing ceremony. 'This is a critical next step for Qatar Airways on our path as we invest in the cleanest, youngest and most efficient fleet in global aviation,' Qatar Airways CEO Badr Mohammed Al-Meer said in a statement. 'This is so we can meet the strong demand in the airline as we seamlessly connect passengers to the world better than anyone.' Boeing Commercial Airplanes CEO Stephanie Pope said the 'record-breaking order' with Qatar Airways 'solidifies their future fleet with our market-leading wide-body airplane family at its centre.' The 426-seat, twin-engine 777-9 is part of Boeing's 777X series, which has yet to produce any deliveries and has still not been certified by the Federal Aviation Administration. The White House earlier Wednesday valued the plane deal at $US96 billion ($145 billion), and said it will support 154,000 US jobs annually and more than one million domestic jobs in total. Boeing and Qatar Airways, however, said the deal will result in roughly 400,000 jobs in the US. Boeing's website says it currently employs around 170,000 people globally. 'It's the largest order of jets in the history of Boeing,' Mr Trump said after Mr Ortberg signed the agreement at the Amiri Diwan. The deal could be a boon for Boeing, which has not posted a profit since 2018. The plane maker has been beset by major safety concerns, manufacturing defects, cost overruns and a nearly two-month-long machinist strike last year. Its business dealings have also been disrupted by Mr Trump's trade war. China stopped accepting deliveries of Boeing planes to its airlines in response to US tariffs, Mr Ortberg said last month. But the company has recently narrowed its losses as it addresses a backlog worth more than $500 billion, Mr Ortberg said in Boeing's first-quarter earnings call. 'This is great news for South Carolina and Boeing,' said Senator Lindsey Graham, R-S.C., calling the deal 'a gamechanger.' Mr Graham's office said the new planes will be assembled at Boeing's Charleston facility. The deal announced Wednesday would nearly double Qatar Airways' fleet of 233 aircraft, according to its website. It could also draw more scrutiny toward Mr Trump's acceptance, and defence, of Qatar's offer to gift the US a luxury 747 jet that will act as the new Air Force One. Democrats have blasted the move as corrupt and unconstitutional, and some of Mr Trump's Republican allies in government and media have also expressed unease. — CNBC's Michele Luhn contributed to this report.
Yahoo
13-05-2025
- Business
- Yahoo
Boeing Wins Order for 777X Aircraft: Should You Buy or Sell the Stock Now?
The Boeing Company BA recently secured a contract from China Airlines to deliver 10 777-9 passenger and four 777-8 Freighter airplanes. Additionally, the airline has options to purchase five 777-9s and four 777-8 Freighter jets. With global customers having ordered more than 520 777X airplanes to date, Boeing's proven prowess in the commercial aerospace market is further strengthened, ensuring its long-term revenue stability. This, in turn, might encourage investors interested in aerospace stocks to add this American jet manufacturer to their portfolio. However, before adding a stock to one's portfolio, one must consider other parameters like share price performance, opportunities as well as risks (if any) to investing in the same. Shares of Boeing have surged 12% over the year-to-date period, outperforming the S&P 500's loss of 4.4%. The stock also beat the Zacks aerospace-defense industry's rise of 10.8% and the broader Zacks Aerospace sector's growth of 9.7% in the said time frame. Image Source: Zacks Investment Research Shares of other aerospace bigwigs like Embraer ERJ and Airbus EADSY have also risen considerably over the year-to-date period. Notably, shares of Embraer and Airbus have gained 31% and 10.5%, respectively. This aerospace manufacturer has been making headlines since the beginning of the year, driven by a series of contract wins across both commercial and defense sectors, as well as several valuable partnership agreements. Together, these developments (expected to strengthen the company's resilience during periods of economic or geopolitical uncertainty) must have reinstated investors' confidence in BA, which got duly reflected in its year-to-date share price hike. Notably, Boeing began its 2025 media account with the announcement of a strategic partnership with Norsk e-Fuel in January, which enables it to invest in the production and availability of sustainable aviation fuel (SAF). In the next month, Boeing secured an order from the Japan Self-Defense Forces for the supply of 17 CH-47 Block II Chinook helicopters. In March, Japan Airlines offered a contract to Boeing to deliver 17 of its 737-8 jets, and BOC Aviation issued an order for the supply of 50 737-8 jets. In April, Boeing signed an agreement to sell portions of its Digital Aviation Solutions business, including its Jeppesen, ForeFlight, AerData and OzRunways assets, to Thoma Bravo for cash worth $10.55 billion. Rising air travel and an aging global fleet are driving demand for new jets and aftermarket services, which likely contributed to Boeing Global Services (BGS) unit generating a solid $5.1 billion in revenues in the first quarter of 2025. Future growth for Boeing in this market looks promising, with the company's upcoming aircraft offering 25-40% better fuel efficiency and lower emissions. With a strong $22.04 billion backlog, as of March 31, 2025, the BGS unit is well-positioned for sustained long-term expansion. In fact, the rapidly growing commercial air travel also bodes well for other aerospace giants like Embraer and Airbus, both of which actively serve the commercial aftermarket services market through their Embraer Services & Support and Airbus Services units, respectively. Boeing's long-term defense outlook also remains strong, supported by rising U.S. defense spending and major program involvement, such as the F-47 Next Generation Air Dominance platform. In the first quarter of 2025, its defense unit secured $4 billion in contracts, taking the backlog to $61.57 billion. Continued innovation, evident from its progress on the MQ-25 program, and strong government support signal strong growth potential for Boeing's defense offerings in the years ahead. In line with this, the consensus estimate for BA's long-term (three-to-five years) earnings growth rate is pegged at 17.9%, higher than the industry's 11.5%. Now, let's take a sneak peek at the company's near-term estimates to understand whether the figures mirror similar growth prospects. Boeing's estimate for second-quarter 2025 sales suggests an improvement of 18.4% from the year-ago quarter's reported figure, while that for full-year 2025 sales indicates a rally of 25.7%. A similar improvement trend can be observed from its 2026 sales estimates. Its quarterly as well as yearly earnings estimates also reflect similar robust performance on a year-over-year basis. Additionally, an upward revision has been observed in the company's near-term earnings estimates over the past 60 days. This indicates that investors are gaining confidence in the stock's earnings-generating capabilities. Image Source: Zacks Investment Research Image Source: Zacks Investment Research While Boeing offers strong growth prospects, it also faces significant challenges that could affect its operational performance, which investors should carefully consider before investing in the stock. Although the commercial aerospace market has been benefiting from steady growth in air travel in recent times, persistent supply-chain issues, particularly those arising from a shortage of aircraft parts, continue to affect the global aviation industry. This, in turn, poses a significant risk for aircraft manufacturers, such as Boeing, Embraer and Airbus. Looking ahead, persistent supply-chain issues are expected to continue to play the role of a primary growth inhibitor in the commercial aviation industry this year as well. Moreover, the recently imposed tariffs by the U.S. administration on imported goods might exacerbate the global supply-chain turmoil, resulting in delays in acquiring parts needed for Boeing's jet production. This might increase Boeing's production costs and strain its production timelines, creating uncertain challenges for the jet giant in maintaining its delivery schedules. This, in turn, might hurt its financial position. The image below shows that BA stock's trailing 12-month return on invested capital (ROIC) not only lags the peer group's average return but also reflects a negative figure. This suggests that the company's investments are not yielding sufficient returns to cover its expenses. Image Source: Zacks Investment Research However, the ROIC of its peers, Embraer and Airbus, is currently better than that of Boeing. While ERJ's ROIC is currently 14.24, that of EADSY is 4.71. In terms of valuation, RTX's forward 12-month price-to-sales (P/S) is 1.69X, a premium to its peer group's average of 1.66X. This suggests that investors will be paying a higher price than the company's expected sales growth compared to that of its peer group. The stock's forward 12-month P/S also seems stretched when compared to its five-year median value, 1.40. Image Source: Zacks Investment Research To conclude, investors interested in Boeing should wait for a better entry point, considering the stock's poor ROIC and premium valuation. BA currently has a VGM Score of F, which is also not a very favorable indicator of strong performance. However, those who already own this Zacks Rank #3 (Hold) stock may continue to do so, considering its recent share price hike, solid sales and earnings growth potential as well as upward revision in near-term earnings estimates. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ) : Free Stock Analysis Report Airbus Group (EADSY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
